AMA seeks to raise $75 million 

AMA seeks to raise $75 million 

Source: AMA seeks to raise $75 million – Sunday News September 16, 2018


THE under fire Agricultural Marketing Authority (AMA) has floated  $75 million agro-bills for the purchase of maize from farmers in the 2018 season. AMA, which recently came under attack from Government and farmers for dereliction of duty.

The AMA Bills have a tenor of 360 days from the first day of allotment. Interest rate is pegged at 7 percent per annum. The bills have special features which include prescribed asset status, liquid asset status and tax exemption status.

The All Share index closed the week on a lower note losing 1.24 points (1,06 percent) to close at 115.91 points as heavyweight counters continue to lose ground. Old Mutual went further down by a hefty $0,7058 to trade at $5,0000, SeedCo was $0,1475 lower at $2,0000 and Delta decreased by $0,0119 to $2,2792. Econet dropped $0,0079 to trade at $1,1921 and Innscor traded $0,0075 weaker at $1,4500.

There were no counters trading in the positive as British American Tobacco, Meikles and OK Zimbabwe all traded unchanged at $27,000, $0,3500 and $0,2400 respectively.