Small scale farmers benefit from US$88m revolving fund
Small scale farmers around the country are benefiting from a cumulative US$88 million revolving fund from local financial institutions facilitated by Zimbabwe Agricultural Development Trust (ZADT).
Responding to financial needs and potential of small scale farmers led ZADT to approach financial institutions to mobilise private capital to support inclusive agricultural growth.
“The fund cut across all agriculture value chains and is meant especially for farmers particularly in drier and semi arid regions of Zimbabwe, who are generally vulnerable to climate change and have limited access to finance,” said ZADT CEO Mr Godfrey Chinoera.
ZADT fund beneficiary Mr Fungai Samakande from Rusape who is into paprika and maize said the programme has immensely improved many livelihoods as they are given soft loans with interest rates as little as 2 percent per month which allows them to carry out sustainable agricultural activities.
The facility is feeding well into the national agenda of growing the Zimbabwean economy through a vibrant and high agricultural productivity that supplies raw materials to the manufacturing sector.