daniel chigunwe
Oliver Kazunga
Senior Business Writer
THE Horticultural Development Council (HDC) has welcomed the US$10 million loan facility announced by NMB Bank Zimbabwe Limited secured from the British International Investment, a United Kingdom-based development finance institution and impact investor.
In a statement, HDC, a membership-driven organisation dedicated to the advancement of Zimbabwe’s horticultural sector, said through its active participation in the Zimbabwe Economic Stability and Transformation (ZEST) programme, has identified the funding gap as a key hurdle in the country’s path to growth.
“HDC welcomes the announcement by NMB Bank Zimbabwe Limited of a US$10 million loan secured from British International Investment (BII).
“This facility, targeted at agriculture exporters, therefore underscores the importance of tailored lending in driving sustainable growth under Zimbabwe’s Horticulture Recovery and Growth Plan.
“The dedication of 30 percent of the loan to sustainable farming is particularly commendable,” it said.
HDC said the dedication of 30 percent of the loan to sustainable farming would enable its members to adopt climate-smart technologies and strategies, such as renewable energy and improved irrigation systems.
The council noted that this not only fosters environmental responsibility, but also strengthens our agricultural sector’s resilience in the face of climate change.
HDC chief executive officer Ms Linda Nielsen said: “Access to finance is crucial for the growth and sustainability of the industry.
“The HDC urges other financial institutions and stakeholders to take inspiration from this impactful model and continue collaborating to provide similar funding opportunities for our farmers.”
The council commits to working closely with all relevant parties to ensure the effective utilisation of the above-mentioned loan and looks forward to the positive impact it will have on Zimbabwe’s agriculture exports and the overall economy.
Bongani Ndlovu