Chronicle Editor
Judith Phiri, Business Reporter
The AFC Land and Development Bank has identified 12 groups of farmers, with a total of 179 members, comprising mainly of women, youths and the disabled which it will support and nurture into viable and sustainable farming businesses in Masvingo.
This is in line with the Government’s thrust of achieving food self-sufficiency and attaining Vision 2030 of an upper middle-income society, with agriculture development playing a key role.
In a statement on Friday, AFC Land and Development Bank said Mushandike Irrigation Scheme, located in Masvingo Province, is one of the oldest irrigation schemes in Zimbabwe.
The scheme is approximately 847 hectares (ha). The scheme cuts across 11 villages that carry out various agricultural activities.
The bank said the groups facility financed 37,85ha of sugar beans and the produce was marketed through various off-taker arrangements organised by the Land Bank.
The bank said during the 2022 winter season it also assisted the 12 groups with working capital for 81ha of wheat.
“Through synergies with its sister company, the AFC Commercial Bank, the AFC Land Bank has championed financial inclusion initiatives by facilitating opening of business accounts for the group as well as individual operating accounts for the members.
“Land Bank has also capacitated the farmers through training on issues to do with record keeping, interacting and negotiating with the market in order to operate as a business,” reads part of the statement.
Furthermore, the bank has assisted with the development of market linkages that enable farmers to have direct contact with the market resulting in better prices and increased income after cutting off the middle- man.
“The AFC Land Bank also assisted by availing inputs adequately and on time for the cropping programmes, which resulted in improvements in the average yield per ha. The quality of the crop also improved to the extent that farmers could attract high end buyers.”
Online Reporter