Agricultural Credits and Warehouse Receipts Act, 2026 (Act. No. 7 of 2026).

This Act, comprising 85 sections, aims to regulate the Warehouse Licensing Authority established under the repealed Act and responsible for regulating and licensing warehouse operators, certifying warehouses, managing the Electronic Warehouse Receipt System, setting storage standards, promoting agricultural credit services, classifying warehouses, handling complaints and disputes, and assessing the financial soundness of warehouse operators. Section 5 constitutes the Board, comprising representatives from the Ministries responsible for agriculture, finance, and commerce, the Attorney-General, the Bankers Association of Zambia, farmers' organisations, grain traders, the insurance industry, and the agro-processing industry. The Board shall oversee the functions of the Authority by providing strategic policy direction, formulating policies and strategies, approving budgets and plans, monitoring performance, and promoting effective corporate governance. Part III of the Act establishes the licensing framework for warehouses issuing warehouse receipts, including requirements for obtaining, maintaining, renewing, transferring, surrendering, suspending, or cancelling licences, as well as obligations relating to financial security, insurance coverage, and compliance with Authority requirements. Part IV establishes the Electronic Warehouse Receipt System and regulates the issuance, recording, transfer, negotiation, alteration, and replacement of warehouse receipts, including the rights and obligations of warehouse operators, depositors, and receipt holders. Part V sets out the rights, duties, and liabilities of warehouse operators, including their rights to sell or pledge receipts, enforce storage liens, manage stored commodities, deliver commodities to rightful holders, maintain proper care and identification of goods, and address claims, damages, and disposal of commodities where necessary.
Part VII establishes the framework for agricultural charges as security interests used to support agricultural financing. It allows farmers, traders, and related businesses to create fixed or floating charges over farming stock, agricultural assets, or commodities to secure loans, inputs, advances, or other obligations. Agricultural charges must be registered in the Collateral Registry to be valid and provide rights to charge holders. A fixed agricultural charge gives the holder rights over specific assets, including the ability to take possession and sell the property upon default, while a floating agricultural charge covers changing agricultural assets and may convert into a fixed charge upon certain events such as default or insolvency. The Part also sets out the obligations of borrowers, including disclosure of charges during sales, repayment from proceeds or insurance payments, and restrictions against fraud. It provides for the priority and enforcement of agricultural charges, protection of charge holders’ interests, and rules governing the treatment, transfer, and disposal of charged agricultural assets.