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Elton Manguwo
GOVERNMENT is working collaboratively with Hippo Valley Estates to enhance the value of 99-year leases by issuing bankable leases that make them more secure and tradable.
In a recent statement, Hippo Valley chairman Mr Canaan Dube said engagements with Government on the issuance of the balance of the 99-year leases, as well as amendments to the language of current leases for bankability, transferability and other necessary changes were at an advanced stage.
“Of the total 17 644 hectares being developed for sugar cane production, around 16 802, which account for 95 percent of the total area have been officially signed off by the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development,” he said highlighting that engagement for the remaining 802 hectares were also underway,” said Mr Dube.
The Hippo Valley Estates – Government partnership underscores Government’s dedication to unlocking the economic potential of these 99-year leases. This initiative specifically aims to enhance agricultural productivity and stimulate investment in the sector.
The sugar processing giant has been making strategic moves to secure land with the total surveyed area for sugar production now been established to be 17 644 hectares from the original estimate of 23 979 hectares.
This development coincides with Government’s growing calls for partnerships between the public and private sectors in agricultural production. Involving a significant agribusiness like Hippo Valley Estates is expected to draw private sector participation and investment into Zimbabwe’s agricultural industry. By enhancing the security of the leases and making them usable as collateral, the initiative will incentivise both companies and farmers to invest in the development and improvement of the leased land.
Furthermore, Hippo Valley in collaboration with Triangle Limited (collectively referred to as Tongaat Hulett Zimbabwe) is actively engaging with the Government and various financial institutions to advance the implementation of Project Kilimanjaro, a new sugarcane development scheme sitting on 4 000 hectares.
“The first 700 hectares allocated for Project Kilimanjaro’s empowerment block have been planted with cane, supporting 41 new farmers. Out of this area, 348 hectares have proven productive this season,” Mr. Dube said.
The Government allocated offer letters to 116 new sugarcane farmers from the remaining 3 300 hectares of Project Kilimanjaro.
“Funding arrangements for the project’s completion are currently being finalised with the assistance of a joint steering committee made up of Government representatives and Tongaat Hulett Zimbabwe representatives,” said Mr Dube.
The project steering committee and Government have set up a company, as part of the project governance structure through which the interests of the new beneficiaries will be managed.
Online Reporter