adminSamantha Chipoyera Herald Reporter
The Harare City Council has authorised Acting Town Clerk Mr Hosea Chisango to enter into negotiations with a private company for cattle ranching and crop farming on its farms. The city council accepted a loan facility of $600 000 from a local bank as seed capital to commence the farms’ commercialisation programme.
Mr Chisango was then mandated to look for a partner to manage and run council farms.
In a report dated May 24, the Acting Town Clerk requested authority to enter into negations with Agrillance (Pvt) Ltd for cattle ranching and crop farming at its farms.
Mr Chisango reported that Agrillance (Pvt) Ltd had approached the city council with a view to partner with the city in cattle ranching.
The company would bring in funding and experienced management. The capital outlay would be equal to the value of the existing cattle herd and improvements relating to cattle handling facilities at the farms in return for 50 percent profit in the joint venture.
The city council said that the joint venture partnership would be for an initial period of 10 years subject to renewal by mutual agreement. Ownership of the farms would remain under the City of Harare.
Agrillance (Pvt) Ltd also indicated that they were in the process of commencing dairy farming at ARDA Rusitu Estate.
The city council’s business committee has noted that the company has done well in agro-business.
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