Zanu PF launches $2,4bn agric fund

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ZANU PF launched a $2,4 billion agriculture revolving fund in Harare yesterday which is expected to see over 800 000 new farmers receive over $3 000 each in agricultural support in the 2014/15 farming season.

Everson Mushava

The programme was a joint venture between Zanu PF youth league and Lasch, a local company.

Company managing director Evan Zininga said beneficiaries would receive inputs worth$3 000 each.

Zanu PF youth and other stakeholders would be tasked to make follow ups to ensure that the inputs were not abused.

“There will be no exchange of cash. We are not working with liquid money. We will get supplies that are guaranteed by government and banks,” Zininga said.

“There will be life and credit insurance to ensure those farmers pay back the money. Government will guarantee and all farmers will access that bond.”

He said the programme was non-partisan. Farmers needing over $10 000 would be required to submit proposals, while those requiring $3 000 automatically qualify. Farmers would form clusters for easy monitoring.

Zimbabwe has in the past launched several agricultural schemes, but most of them collapsed, with beneficiaries — most of them Zanu PF supporters and officials — failing to pay back.

“There will be water-tight securities this time. Experts like agronomists will be dispatched to ensure effective utilisation of the support,” Zininga added.

A 10% interest would be levied on farmers, he said. First Mutual Insurance Company will provide life cover, while Hamilton provides credit cover.

Speaking at the same event, Agriculture minister Joseph Made urged farmers to be more productive and capitalise on the ban on genetically-modified foods in Russia on June 4 to export organic products.

Shurugwi South MP Anastancia Ndlovu, who is also Zanu PF secretary for lands in the Women’s League said government should provide land to youths so that they play a key role in farming.

14 COMMENTS

  1. “There will be no exchange of cash. We are not working with liquid money. We will get supplies that are guaranteed by government and banks,” Zininga said.- so this is a dud. Who will put their money into such schemes were returns are zilch? Which supplier will supply seed without payment? The folk stories continue to grow.

    Paivepo……

  2. Don’t hold your breath, these guys are not serious at all. Maybe in future such announcements should be made after the fact

  3. I was shocked, where in hell did they get such kind of money!!, aaaah, its another new faced dishing out of inputs for free to zanu zealots.I warn those companies who want to insure this time bomb,they also need to be insured otherwise they are penciling their demise.Kwanzi water tight,how many programmes have been water tight only to find the water gone,ha-ha-ha!

  4. Zimbabwe budget $4billion, Zanu PF agric fund $2.4 billion? Zim budget money’s is nt there, Zanu PF agric funds watertight? Shd é agric fund b managed, disbursed by gvt or Zanu PF? Wat separates Zanu PF 4rm gvt?

  5. How can we have 800 000 farmers in zim. when there are no more than 7 million people in the country iclusive of children and the aged. Maybe some will farm by remote control from South Africa and the diaspora.

  6. Why do people like touting such figures? Hanzi $2.4 Billion. Vamwe minister hanzi varikutsvaka $10billion… Zimbabwe’s challenge is not lack of money, but lack of proper governance…

  7. Nhai macdes why not channel your resources into paying farmers who want to deliver their produce to national institutions.Providing money to these hard working farmers will make them buy zvinhu kunanana Area 8 then our economy begins to grow.Kwete maschemes awa which will never see the light of day.Zviroto izvi if not campaign gimmick,hanti makuenda kuCongress.

  8. “He said the programme was non-partisan.” Let the work begin, non-partisan but administered from Jongwe House by the Zanu PF youth league heade by Jim Kunaka(who is running Mpedzanhamo and the bus ranks very well)…………kkkkkkkkkkkk

  9. ndipei mari iyoyo ndipe GMB ibhadhare varimi kuno kuKadohwata nekuKamutsenzere.to me it makes sense to pay for maize that is due for harvest.that will enable the farmers to source imputs in a way they can control and on time .how many tons of maize can we buy ne $2.4bhidda?food for thought comrade Made!nevamwe wose awo mudogwamana nawo

    • Hanzi there’s no real tangible US$s. It’s all in the minds of the planners so there’s nothing to pass to the GMB. I suppose a farmer will register for inputs, sign up for credit & life cover then off to work. Come harvest time, you wake up to an inflated bill for the inputs to take care of profits for the deal makers + insurers. You will remain with nothing. So it’s a lie that there’s no real money involved. At the end some hapless farmer will pay through the nose while ZPF shefs & cronies laugh all the way to the bank. Itamba wakachenjera.

  10. Kuisa marikuGMB zvinemusoro chose varimi vabhadharwewo nenguva uye vadzidze kuzvirongera zvinhu zvavo.

    Imwe yaigona kuiswa kumabanks nemaMFIs yoadministwa zviri professional serevolving fund, then it grows and benefits even generations to come.

    Zvemainputs izvi hazvishande, munhu anongozotora zviripo chero zvisina zvazvinomupa.

    Madhumeni anodiwa chose arimotivated kwete ariko ikozvino awa, mamwe acho arihalf baked vemushagashe vaya.

    Ngatiratidzeiwo kuita vanhu vanoti fungei patinoronga zvinhu zvedu

  11. Inobvepi birioni yo ma civil servants chaiwo achimama nenhamo kudaro.mufudzi wemombe akatova nane. Bhirioni. ? Zviroto zviroto. Nxca. Kana iwo ma yusi achoowo, havana kana sipo yekuwacha nduwe chaidzo. Bpwa.

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