The government has finalised the crafting of new 99 year leases which can be used by farmers as collateral to access loans from the financial institutions.

The introduction of the new 99 year follows an agreement reached by the government, the Bankers Association of Zimbabwe and the World Bank.

The Minister of Lands and Rural Resettlement, Dr Douglas Mombeshora said the government has started dishing out the new 99 year lease to farmers while holders of the old 99 year leases should approach the ministry to get the new bankable tenure document.

The coming into effect of the new bankable 99 year lease is expected to usher in a new era which is expected to unlock the full potential of farmers to utilise their allocated land.