Funding

CBZ launches Agro-Yield

CBZ Holdings Limited has launched an agricultural finance initiative under a new division, CBZ Agro-Yield.

The financing initiative by the bank is meant to curb the ever-growing import bill with regards to agricultural produce.

The initiative is a partnership between the bank and Government to sponsor soya beans and maize farming for the 2019\2020 season.

“This initiative is housed under a new division branded CBZ Agro-Yield.

“The new division will be the bank’s partner together with Government in financing maize and soyabeans,” said CBZ.

Having locally produced beans will reduce the demand of imported Crude Degummed Soya Bean Oil (CDSBO) lessening the amount of foreign currency used for purchasing of the raw material.

Speaking to participants at the soya bean public seminar last month Deputy Minister of Lands, Agriculture, Water, Climate and Rural Settlement Vangelis Haritatos said the Government was looking forward to more private sector co-operation (funding) to achieve the desired soyabean yield.

The current scheme is restricted to maize and soya farmers. Those with irrigation facilities will be prioritised.

Source: The Herald

 https://www.herald.co.zw/cbz-launches-agro-yield/

Govt avails $6m livestock facility

GOVERNMENT has availed $6 million to the agriculture development bank, Agribank, to be used for the revival of the country’s wobbly livestock industry.

Dubbed The Livestock Facility, the funds are expected to be accessed by qualifying livestock farmers across the country....

 https://www.herald.co.zw/govt-avails-6m-livestock-facility/

Schweppes engages more outgrowers

Schweppes Zimbabwe Limited intends to expand tomato and orange outgrower schemes as the company continues to bolster participation of locals in product value chain.....

 https://www.herald.co.zw/schweppes-engages-more-outgrowers/

ZADT disburses $87,5m to support farmers

THE Zimbabwe Agricultural Development Trust (ZADT) has so far disbursed a total of $87,5 million to agri-businesses through micro-finance institutions (MFIs) and banks, officials say.

The fund, which started in 2012 with a seed capital of $3,8 million from donour partners — Danish International Development Agency (Danida), the United Kingdom’s Department for International Development (DFID) and the Ford Foundation, has grown to $37,6 million and supports all farming activities and value-chain sectors, with the exception of cotton and tobacco......

 https://www.newsday.co.zw/2018/10/zadt-disburses-875m-to-support-farmers/

Agribank unveils $10m facility for horticulture farmers

THE Agricultural Bank of Zimbabwe (Agribank) has set up a $10 million facility to support horticulture farmers across the country.

Agribank said the facility attracts a 10 percent interest per annum with a tenor of up to 12 months for working capital and three years for capital expenditure.....