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Elita Chikwati Agriculture Reporter
The Agriculture Finance Corporation Holdings is set to raise funding for the summer cropping season to help farmers with both working capital and infrastructure financing.
Credit will be extended to all farmers; A1, communal, resettled smallholder and A2 or commercial farmers. Farmers are expected to start accessing the funding by end of July in preparation for the summer season.
The bank is at an advanced stage of the princes and has funding strictures and instruments in place.
In a statement today, the AFC said the agro bond instrument will be accorded prescribed asset status, highly liquid and enjoying tax exemption. The instrument will also have an attractive guarantee by the investors.
“The mandate of the AFC Holdings Group is to support the Government thrust for agriculture production, productivity and Food Systems Transformation towards the attainment of national food security and His Excellency Vision 2030: Towards a prosperous and empowered Middle Income Status by 2030.
“The pursuit of the Mandate finds expression through the Ministry of Lands, Agriculture, Fisheries, Water and Rural Resettlement Vision for Agriculture and Food Systems Transformation Strategy (2020-2025),” said the AFC Holdings.
Government availed $500 million to the AFC Holdings through the Reserve bank of Zimbabwe medium term bank Accommodation to finance whet production during the 2020/21 season.
The AFC was revived by Government to support the overall transformation process for accelerated development of the country.
Online Reporter