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Tinashe Makichi : Business Reporter

African Century Leasing is confident of securing about $20 million worth of lines of credit this year aimed at supporting productive sectors of the economy. The leasing company has already secured credit lines from two reputable financial institutions, Botswana based Norsad Finance Limited and Belgium based Incofin Investment Management.ACL managing director Mr Stanley Matiza yesterday said the leasing firm is confident of securing all the negotiated lines of credit by the end of this year.

“The leasing firm’s ultimate goal for 2016 is to secure $20 million worth of lines of credit and we are hopeful of securing all lines that were negotiated,” said Mr Matiza.

He added that ACL has managed to play its part in securing funding for the productive sectors of the economy especially agriculture.

“We have confirmed $15 million worth of lines of credit from Norsad Finance and Incofin Investment Management,” Mr Matiza said recently.

The leasing firm is also in negotiations with Oikocredit, a worldwide cooperative and social investor, providing funding to the micro-finance sector, fair trade organisations, cooperatives and small to medium enterprises.

Last year ACL received a combined $9 million from Geneva based investment company, Symbiotics Group and Dutch development bank, FMO.