Zimbabwe: Sakunda Ropes in Local Banks to Fund Command Agriculture Programme

Jun 08, 2017 | New Zimbabwe; All Africa

Sakunda Holdings, a zimbabwean fuel supplier, engaged a consortium of local banks to help fund the government's command agriculture special maize production programme.

Fuel supplier, Sakunda Holdings, which financed government's command agriculture special maize production programme, says it has roped in a consortium of local banks to help fund the scheme over the next three years. Under the programme, government provides inputs, irrigation and mechanised equipment to mainly smallholder farmers. Zimbabwe, a former regional breadbasket that has become a serial grain importer since the government's seizure of white-owned farms in 2000, expects 2 million tonnes of grain in the 2016/2017 season, more than enough to meet the country's annual demand. Under the command programme, 168,666 hectares of land was planted, far short of the target of 400,000 as a result of delays in the distribution of inputs and incessant rains. Sakunda, which in 2015 was awarded a $500 million contract to set up a 200 megawatt emergency diesel power plant in Dema by government, put up close to $264 million for the maize programme. Read more on All Africa. Source: All Africa