Online Reporter
Edgar Vhera
THE AFC Commercial Bank has introduced a ‘‘Farm Purchase Scheme’’ to enable beneficiaries of the land reform to acquire title deeds in fulfilment of the Government’s directive to make agriculture land bankable.
The move is meant to speed up the programme which has so far seen 1 000 AI and 234 A2 farmers getting their title deeds.
In a notice, the AFC confirmed the move.
“Farmers, it’s your time to own your land. AFC Commercial Bank is now offering Farm Purchase Loans under the Farm Purchase Scheme to help you get full ownership of your farm. Take advantage of this opportunity to secure your land and invest in your future.”
The notice advised farmers to bring proof of land ownership (Offer letter, Land Permit, 99-year lease, among others), national identification documents and land evaluation application form. “For civil servants, a pay slip is required, while a war vet identification document is required for war veterans.
“If you do not have an account at AFC, submit the following additional documents for an account to be opened: two passport-size photos, an account application form and proof of residence,” said AFC.
Zimbabwe Farmers union (ZFU) secretary general, Mr Paul Zakariya, said this noble move was highly commendable.
“There is also a need to raise awareness of the processes. Title deeds will unlock the value of all farmlands and we see this move as a way of de-risking agriculture in Zimbabwe,” he said.
Zimbabwe National Farmers union (ZNFU) president, Mrs Monica Chinamasa, concurred that this was a welcome development, though not many farmers were aware of the development. She, however, expressed concern that some farms had not yet been surveyed as the process was costly. Lands, Agriculture, Fisheries, Water and Rural Development Minister, Anxious Masuka, said farmers were being issued with deeds of transfer, which bestow private ownership and full land rights to the beneficiary. “All land reform beneficiaries with valid tenure documents qualify for the issuance of title deeds and all resettled farmers should be issued with title deeds by June 30, 2026.
“Currently, there are three options for the purchase of the farms: cash option, credit and mortgage facility,” he said.
Under the mortgage facility, the farmer is advanced funds by the bank and this is paid to the Government. “The farmer then pays back the loan to the bank. There is a 7,5 percent interest rate per annum and the maximum tenure is 20 years. Title deed is processed as soon as the bank pays the Government and the deed is endorsed with the mortgage and given to the bank,” Minister Masuka disclosed.
AFC is one of the five banks under this programme. Dr Masuka said small-scale commercial farmers were allocated State land long back, initially on offer, then short-term lease and 99-year lease with option to purchase; then title deeds. “Some indigenous farmers who had their farms acquired by the Government but not resettled or partially settled will get deeds of grant as previously announced under Statutory Instrument (SI) 62 of 2020,” he said.
