Farmers are set to benefit from a scheme that will see out-growers access financial support for inputs as well as savings and insurance from private players.
At a time the government’s command agriculture programme has shown that the country can become food self sufficient, the private sector has stepped in with an intervention set to see over 400 000 farmers access financing to fund their endeavours.
Under the scheme, financed by a local deposit taking Microfinance Bank and agriculture service provider, farmers will access cheap finance for inputs and other farming requirements while also providing uptake of their produce.
It is critical that more financial entities support the country’s agriculture sector as increased food production will also have a ripple effect on the economy said financial expert, Mrs Lynn Mukonoweshuro.
For many farmers, expensive loans, demands for collateral and hesitancy to assist them had been a major hurdle and thanks to the command agriculture programme, land is being used productively as a result of availability of inputs.