Zimbabwe: Dairy Sector, Banks in Funding Talks

Aug 18, 2017 | Zimbabwe Independent; All Africa

The Zimbabwe Association of Dairy Farmers (ZADF) has engaged the banking sector in efforts to secure funding for the industry.

The negotiations come at a time the dairy industry has registered growth in milk production but still falling short of the national dairy requirement of 120 million litres per annum. ZADF chairman Emmanuel Zimbandu told businessdigest on Wednesday that they are currently in negotiations with financial institutions to secure much-needed funding to boost milk production. "We are in negotiations with both the Bankers' Association of Zimbabwe and individual banks because it is difficult to grow the dairy industry," Zimbandu said. "The negotiations have been positive but as you will understand that I cannot divulge details of our talks because of their sensitive nature." Banks have been reluctant to fund farmers who received 99-year leases from government, citing lack of collateral. Government and banks have held several discussions over the issue in a bid to find a solution and unlock funding for farmers. Read more on All Africa. Source: All Africa