The African Development Bank (AfDB) Feed Africa Programme is determined to ensure that African countries are food self secure by providing them affordable lending rates to the agricultural sector.
Weak economies, poverty, inefficiencies in agricultural production and limited financing has resulted in more than 233 million people going hungry daily on the African continent.
The AfDB has, however, come up with an agricultural transformative strategy, Feed Africa Programme, which guarantees a well funded inclusive agribusiness sector that would make African countries food self-sufficient.
This emerged at the roundtable for private sector players in Zimbabwe organised by a delegation from the AfDB in Harare this Wednesday (yesterday).
In order to capacitate small businesses, the AfDB also accompanies lending with technical support and the importance of the private sector was also emphasized by experts from the continental lender.
In addition, the Chief Trade Finance Officer of the AfDB, Mr Pitch Bleming Nekati emphasized the huge role the private sector will play in resuscitating Zimbabwe’s economy.
The continental bank has upscaled its lending and development assistance to Zimbabwe since the coming in of the new dispensation.
In March this year, the bank unveiled a US$20 million lending facility for the private sector to be disbursed through cabs.