Nov. 1, 2019
Government has reiterated its pledge to guarantee all loans that banks will extend to commercial farmers under the revamped Smart Agriculture Concept, previously known as Command Agriculture, to give lenders confidence to financially support the sector without being restrained by concerns of the risk of defaults, an official has said.
The loan facilities will, however, be mainly available to farmers with a proven track record of producing and repaying their loans to the Government when the State agriculture financing programme was still running as Command Agriculture.
Sept. 20, 2019
Government has enlisted commercial banks and more private sector players in the administration of a new financing model for Command Agriculture, as it seeks more sustainable means of financing agriculture to boost production. The financing scheme will be implemented under a public private partnership (PPP) arrangement with the ultimate goal of mobilising financial resources for the sector, widely regarded as the backbone of the Zimbabwean economy. The approach is in line with the 2019 National Budget as well as the Transitional Stabilisation Programme (TSP), which envisions Zimbabwe becoming an upper middle income economy by 2030, driven by increased industrial activity.
Aug. 5, 2019
Government has earmarked $2,8 billion for Command Agriculture, which will extend the facility by another year and result in the production of 210 000 hectares of maize and 30 000 hectares of soyabeans during the 2019/20 summer cropping season. Presenting his Mid-Term Fiscal Policy Review and Supplementary Budget Statement on 1 August 2019, Finance and Economic Development Minister Mthuli Ncube said the programme will only benefit farmers with good track records of repaying loans and producing high yields.