NATSAVE UNDER FIRE OVER K83 MILLION IN QUESTIONABLE FARMING LOANS
The Auditor General has revealed that the National Savings and Credit Bank, NATSAVE, irregularly loaded agricultural loans amounting to more than K83 million onto the accounts of 960 farmers who had not applied for financing during the 2025/2026 farming season.
The loans were processed under the Sustainable Agricultural Financing Facility, contrary to established application and approval procedures.
According to the report, NATSAVE management attributed the irregularity to an error that resulted in beneficiaries being assigned the same loan amounts they had received during the previous farming season.
Of the K83.19 million involved, seven beneficiaries redeemed agricultural inputs worth K559,940, an amount that remained unrecovered as of August 31, 2026.
The remaining K82.63 million had not been redeemed.
Southern Province recorded the highest exposure, with 532 farmers assigned loans worth approximately K52.3 million.
Economic expert Kelvin Chisanga has warned that the irregularities could expose farmers to debts they never requested, potentially damaging their credit records.
The revelations have raised questions about internal banking controls, accountability and the protection of farmers under government-supported agricultural financing schemes.