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The Permanent Secretary for the Ministry of Lands, Agriculture, Fisheries, Water, and Rural Development, Dr. John Basera officially launched the Potato Value Chain Financing Facility being administered by AFC Holdings on Tuesday, 3 May 2022.
The launch was hosted by one of the first beneficiaries of the scheme, Mr. Ronald Museka at Parklands Farm in Norton, Mashonaland West Province.
“This facility is an import substitution intervention which aims at boosting productivity and profitability in the potato value chain as well as expanding the starch options for the country. Whilst the model is supported by the Government of Zimbabwe through a performance guarantee to ensure farmer-friendly interest rates, the scheme will ensure full recovery of any support given by the bank on the cost of inputs,” Dr. Basera said.
The scheme is anchored on tripartite arrangements involving the bank, farmers, and off-takers. Considering the complexity surrounding the perishability of potatoes, the facility will be accessed by farmers with contracts or off-take agreements with registered buyers including potato processors, fast-food outlets, supermarket chains, seed houses, and distributors of fresh produce.
The scheme directly contributes to the Ministry’s strategy of transforming Zimbabwe’s agriculture to accelerate the attainment of Vision 2030 through the implementation of NDS1.