News

Zimbabwe: $100M AMA agro-bill to finance farmers

Zimbabwe
Published Jun 1, 2021

Tridge summary

The Agriculture Marketing Authority (AMA) has received all regulatory approvals to raise $100 million through agro-bills to support increased agricultural productivity. The agro-bill will provide affordable financing to farmers in horticulture and oilseeds (cottonseed, sunflower seed, soya beans, groundnuts, and Sesame) production. The bill's financial partners are AFC Commercial Bank.

Original content

Farmers who have registered with the marketing authority and meet other prescribed requirements will be eligible to receive agricultural loans under the facility. AMA chief executive Mr Clever Isaya encouraged smallholder farmers across the country to take up the loan for maximum profitability from their horticultural farming. "Finance is required to intensify agricultural productivity. The commercial success of horticulture is underpinned by access to inputs, adherence to best practices and access to market information and knowledge. The latter is now easily available thanks to advances in technology," he said. The initiative is part of AMA's strategy to facilitate and structure finances through various instruments to support production and marketing of agricultural products. The loans are set to promote development of the horticultural sector as espoused in the Horticulture Recovery and Growth Plan. Increasing access to affordable financing is one of the major drivers of the ...
Source: All Africa
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