AGRICULTURAL experts have welcomed the US$10 million loan secured by NMB Bank Limited from British International Investment for agro-business, saying it will drive growth in the key sector.
Agronomist and head of Zimbabwe Farmers’ Union, Tafadzwa Mukarakate, said the loan is a game changer for the sector.
“By providing much-needed capital to our exporters, we can increase our competitiveness on the global stage and ensure our products meet international standards,” Mukarakate said.
Rachel Moyo, a leading advocate for sustainable farming and chief executive of Green Earth Zimbabwe, said investing in sustainable agriculture is crucial for the future of farming in Zimbabwe.
“The emphasis on renewable energy and climate resilience will help our farmers adapt to changing weather patterns and reduce their environmental footprint,” Moyo explained.
John Chikanda, an agricultural economist said: “It sets a precedent for future investments and opens doors for more international funding aimed at transforming our agricultural landscape.”
Seventy percent of the loan is designated for supporting agricultural exporters through capital expenditure, infrastructure development, and imports.
The remaining 30% is earmarked for projects that promote sustainable agriculture, including renewable energy, energy efficiency and climate resilience.
- Experts applaud US$10m agro-business boost
