Zimbabwe launches land bank to drive agriculture growth
Zimbabwean President Emmerson Mnangagwa/Photo: GettyImages
HARARE, April(Xinhua) — Zimbabwean President Emmerson Mnangagwa on Friday launched the country’s land bank that is expected to drive agriculture growth through the provision of affordable financing to farmers.
The land bank is one of the four subsidiaries of the Agricultural Finance Corporation (AFC), with others being the insurance company, leasing company and the Agricultural Development Bank of Zimbabwe (Agribank).
Mnangagwa said the strategic land bank will further propel an agricultural revolution in the country, with the AFC acting as the premier one-stop shop for agriculture financing and development.
He said the AFC should provide appropriate short to long-term financial products and packages to all categories of farmers.
He said with Zimbabwe’s land reform program over and irreversible, the focus must now be on increasing productivity and sustainability of the agriculture sector.
Zimbabwe’s economy is agriculture-based, and this year, the country is expected to produce surplus maize after a series of droughts.