HARARE, Mar 21 (NewsDay Live) – The People’s Own Savings Bank (POSB) Zimbabwe says it has started to sell government-procured tractors from Belarus to local farmers.
The tractors were secured by the government of Zimbabwe through the Ministry of Lands, Agriculture, Fisheries, Water, and Rural Development from Belarus for local farmers across the country under an initiative to enhance agricultural mechanisation and productivity in Zimbabwe. POSB is one of the banks selected by the government to resell the tractors to local farmers.
“We are pleased to inform interested farmers that they can now visit the Bank’s service centres with their application documents to purchase the tractors. As part of our commitment to transforming livelihoods and fostering sustainable agricultural practices, POSB Zimbabwe is pleased to offer a range of tractors from Belarus, including 81 Hp, 107 Hp, 130 Hp, and 155 Hp models. These tractors are designed to meet the diverse needs of farmers, ensuring they have the right tools to enhance their productivity and efficiency,” said Garainashe Changunda, POSB chief executive officer.
To make this initiative accessible to as many farmers as possible, POSB Zimbabwe, in partnership with the Ministry, is offering flexible financing options, including a 3-year repayment period with no collateral needed and an attractive interest rate of 7.5% per annum.
"This project aligns with our commitment to supporting the agricultural sector and empowering local farmers with the tools they need to succeed. By offering flexible financing options, we aim to make these tractors accessible to as many farmers as possible, ultimately contributing to the growth and sustainability of Zimbabwe's agriculture. We are thrilled to partner with the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development as one of the resellers of the Belarus tractors to our local farmers," said Changunda.
The tractors are available to individual farmers, registered agribusinesses, farming cooperatives, and irrigation schemes. Interested parties are required to meet specific criteria, including having a farmer’s account, providing a cover letter, security of tenure documents, and a detailed project proposal and payment plan, among other requirements.
Farmers can purchase from any POSB service centre.
- DPC pays out $139 million
- World View: Might Russia use its 'tactical' nukes?
- Mystery buyer of diamonds outed
- Feature: Model shift: Climate change forces Zim to finally take up irrigation
