The Land and Agricultural Development Bank of Zimbabwe has appointed a new board of directors.
Addressing members of the media in Harare at Ngungunyana Offices on Friday, Lands, Agriculture, Fisheries, Water, and Rural Resettlement Minister, Dr. Anxious Masuka said the board was significant in ensuring a vibrant agricultural transformation of other relevant parastatals in the ministry in line with the National Development Strategy 1.
“The Land and Agricultural Development Bank of Zimbabwe is a critical institution in the agricultural landscape. With it, we will complete the parastatals transformation under this ministry by giving all of them very live mandates aligned to the food and agriculture transformation strategy and aligned to the National Development Strategy 1,” he said.
Dr. Masuka said the coming in of Land the Bank will not wipe away Agri Bank as it will continue performing in a more diversified manner.
“The Land and Agriculture Development Bank of Zimbabwe is a key institution. It will immediately ensure that there is a viable bank that will continue doing what Agribank has been doing by diversifying to other more activities as well as becoming inclusive.”
The newly appointed board members are former SeedCo chief executive and chief executive for Syndicate Resources Mr. Denias Zaranyika, former First Mutual chief executive Ms. Ruth Ncube, Zimbabwe Commercial Farmers Union of Zimbabwe president, Dr. Shadreck Makombe, Mr. James Mutizwa of Chihambakwe-Mutizwa and Partners, farmer and former Zimbabwe Industry Tobacco Auction Centre (ZITAC) executive Mr. Wilson Nyabonda and Ministry representative Mrs. Rutendo Nhongonhema.
It was highlighted that the Agriculture Finance Corporation has been transformed trading to the Land and Agricultural Development Bank of Zimbabwe which will provide investment support for A1, A2, and small-scale commercial farmers.
The chairperson of the board will be announced in due course due to administrative processes in progress.