A US$10 million facility for small scale cooking oil processing firms has been unveilled to increase competitiveness and quality of products.
Business confidence in the cooking oil processing sector is on a rebound following the facility for emerging firms being introduced to boost capacity.
The facility which is being administered by the central bank subsidiary Homelink, is likely to improve production for small farmers currently facing funding problems, said Zimbabwe Small Scale Oil Processors Association chair, Mr Donald Gwisai.
Regulatory authorities are coming up with facilities at concessionary rates to increase exports, noted RBZ deputy governor Dr Charity Chipika.
The cooking oil processing sector is on a rebound in the back of tight import controls for its products, however limited supply of cotton seed, soyabeans, groundnuts and sunflower is posing a threat to viability.