admin
Edgar Vhera Agriculture Specialist Writer
GOVERNMENT’S thrust for a successful 2022/23 summer cropping season has gained traction with AFC Holdings pledging to finance over 65 000ha of various crops.
This was revealed at the recent Zimbabwe Agricultural Show held in Harare by AFC Holdings strategy, marketing and corporate communications group head, Mrs Caroline Mozhendi.
“AFC is a significant contributor towards driving the country’s national agriculture production and is targeting a minimum of 65 000ha covering maize, soya beans, sunflower and small grains. Support will be given to communal farmers, irrigation schemes, A1, A2, contractors and institutional farmers,” said Mrs Mozhendi.
The AFC has since announced the modalities of the process starting with application loan forms collection, preparation of business plans and cash flow projections. The completed application form together with attachments of business plan, cash flow, copies of IDs/company registration, proof of land ownership (offer letter, lease and affidavit) is then submitted to AFC, triggering farm visits, loan application review and approval.
Mrs Mozhendi revealed that farmers had already started making applications, which were at various stages of assessment. Input supply arrangements have also been made with local reputable input suppliers to ensure successful provision of adequate inputs on time and avoid short-changing farmers.
Chronicling the journey travelled since the rebranding, Mrs Mozhendi revealed that the AFC had been instrumental in the Government’s import substitution drive starting with the potato value chain transformation.
Under the potato value chain financing facility launched by the Government on May 3, 2022 she revealed that AFC had so far disbursed Z$1 343 752 816 and US$64 000 to cover 1 170ha of potato production. Funding applications for this facility are still ongoing and farmers are urged to come with bankable projects to access the funding.
The AFC was also actively involved in the financing of the current wheat production success story.
“The bank is in the market targeting to raise Z$5bn towards the funding of 10 420ha of wheat. The crop is in good state and poised for a record yield towards food self-sufficiency. We disbursed the facilities either as cash to meet working capital requirements or in the form of inputs such as seed, chemicals, fertilisers and fuel,” revealed Mrs Mozhendi.
AFC Leasing is ready to meet the leasing requirements with tillage, land preparations, harvesting and spraying.
“AFC Leasing has combine harvesters, tractors, disc harrows, boom sprayers and planters for use by land preparation up to harvest. We have established 22 cluster centres across the country where all farming equipment can be easily accessed by the farmers at affordable hiring terms,” she revealed.
AFC has established a one stop shop where farmers have access to finance, inputs, leasing and mechanization services under one roof. AFC has also been very innovative in coming up with new payment model where farmers can do barter trade allowing the tendering of crop produce as a form of payment.
AFC will then partner with grain banks/warehouses to store this grain/crop.
Added Mrs Mozhendi: “AFC’s doors are open across the country’s 10 provinces. Come and get your summer loan application today.”
Zimbabwe Commercial Farmers Union (ZCFU) president, Dr Shadreck Makombe yesterday urged farmers to visit AFC branches nationwide and seek summer funding now before the onset of the rainfall season. He said they were yet to ascertain the success or failure of the scheme though their members had been to the AFC commercial bank for loans adding that it was too early to make such conclusions
Online Reporter