Funding for agriculture will not be adequate

via ‘Funding for agriculture will not be adequate’ – The Zimbabwe Independent by Hazel Ndebele September 26, 2013

PREPARATIONS for the 2013-2014 agricultural season have started on a bad note after the Bankers Association of Zimbabwe (BAZ) indicated financial institutions will not be able to adequately fund the upcoming cropping season.

Speaking at the Agro-Business, food and Nutrition Security Conference in Harare today, BAZ President George Guvamatanga said although the banking sector has increased funding from US$549 million during the 2010-2012 season to US$620 million in the 2013-2014 season, the funds were still not adequate to meet farmers demands.

Although he did not reveal how much was needed, Guvamatanga said a lot of funds were needed in the short, medium and long term to fully revive the sector. He said funding is needed for inputs as well as infrastructural repairs and development.

Guvamatanga also urged government to come up with policies on the distribution of the agricultural fund to enable poverty reduction. The fund is currently heavily favoring the tobacco farmers while marginalising maize farmers, who play a critical role in feeding the nation.

“We have worked with what we have, given the sanctions being faced by the nation therefore the government needs to come up with a sustainable framework. Currently 50% of the fund goes to tobacco, 7.55% to cotton, 4.87% to maize, 6.94% to sugar and 3.5% to horticulture” said Guvamatanga.

Speaking at the same occasion, Vice-President Joice Mujuru said it was everybody’s responsibility to fight poverty and the food crisis gripping the nation.

“We therefore have to adopt policies and develop supporting infrastructure to stimulate growth in the sector so as to retain our status of being the bread basket of the region” she said.

 

COMMENTS

WORDPRESS: 4
  • comment-avatar
    gorongoza 7 years ago

    we had been used to the spin that Biti is refusuing with the money. now we are anxious to get the new-old spin of sanctions blaming!

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      jongwe power 7 years ago

      Actually, we have no money because of witchcraft and tokoloshe. These supernatural beings go to the Reserve Bank, and through magic, they make all the money earned from diamonds, platinum, tollgates and tobacco disappear. The fact that the Zimbabwe Independent, Newsday, Daily News, and the Zimbabwean always report missing revenues is proof enough that they summoned the tokoloshe and witches to wreak havoc on our country, along with the British, the Americans, the Czechoslovakians, the Illuminati, the Rothschilds, the Bush family, and the Reptillian Shape-shifters from the planet Nibiru.

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    Macon Pane 7 years ago

    Yeah, who knew that Grace’s shopping trips were so important to the health of the economy. All those poor hungry and jobless people would just love for her to be able to again go to Paris and London to buy her shoes… then, they’d be able to go back to work, and have seed to plant, and plan a better future for their children. Ya know, I’m wondering if those ZANU people live in such a bubble that they’ve come to actually believe their own foolish rhetoric. Kinda like the hypnotist who, attempting to hypnotize someone else, accidentally hypnotized himself into a stupor.

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      Rudadiso 7 years ago

      Ah, Macon, Zanu p.f. does indeed believe the drivel they spew on a daily basis because it is in the DNA of idiots to believe their own propaganda. Remember these people, just a few years ago, believed a grade 3 graduate when she told them diesel oozed from a rock. Need we say more?