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Kumbirai Tarusarira
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 20192020 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.
Online Reporter