The ManicaPost
Farming Reporter
AGRIBANK has lined up several initiatives to support sustainable agriculture development in ways that can positively make a difference in the lives of resource-poor smallholder farmers.Zimbabwe can grow millions of jobs, regain its lost status as the breadbasket of Africa and create a better future for its hardworking citizenry if agriculture investment and smallholder farmers’ support are enshrined as its top priorities.
Agribank chief executive officer, Mr Sam Malaba, said the financial institution was focused on expanding its agriculture interventions with particular focus on smallholder farmers and those with working irrigation schemes.
Agriculture investment has been the Achilles Heels of the farming sector in Zimbabwe.
“The bank is set to support sustainable agriculture development through a number of interventions in agriculture financing, including expanding on agriculture interventions with particular focus on smallholder farmers and farmers with irrigation schemes,” said Mr Malaba.
Mr Malaba said Agribank would continue supporting Government programmes like the Brazil More Food for Africa.
“The bank has supported 1 688 farmers under 36 different projects and is prioritising value chain financing in the agriculture sector from production through to marketing of produce,” he said.
“The bank is supporting a wide range of business activities in agriculture, including sugarcane small-holder farmers. The bank has disbursed money in support of sugarcane farmers and is expanding this intervention,” said Mr Malaba.
The bank has also forged an alliance with the Tobacco Industry and Marketing Board (TIMB), Tobacco Research Board and Scientific and Industrial Research and Development Centre (SIRDC), supporting various interventions in the farming sector.
“The bank is in partnership with TIMB and TRB to support tobacco projects which will benefit smallholder farmers in the tobacco sub-sector. SIRDC is pioneering new drought resistant seed variety and Agribank supporting this initiative that has potential to measurably enhance the maize yield for Zimbabwe,” said Mr Malaba.
Agribank is also targeting green or fresh produce value chains targeting financing trading activities at key markets such as Mbare, Renkini, Kudzanayi and Sakubva.
“This will be expanded across provinces. Beyond the markets, Agribank will support downstream farmers who supply fresh produce to these markets,” said Mr Malaba.
Research has shown that several countries that have increased their support for agriculture have reaped the rewards. Examples include Ghana, whose support averaged 9.1 percent of public spending. It achieved 17 times higher agriculture output per capita and resultantly reduced extreme poverty by 44 percent.
Burkina Faso, also allocated 17 percent of its budget to agriculture (2003-2010) doubling the number of cotton growing households while cotton related activities created about 235 000 jobs that benefited nearly 1.8 million people.
So is Ethiopia, whose allocation to agriculture, (2003 to 2010), stood at 15.2 percent of the national budget – whose impact trebled extension staff, quadrupled the length of rural road and reduced poverty by 49 percent.
Zimbabwe once touted as the “breadbasket of Africa” is among countries struggling to meet food requirements for her growing populations.
