Land bank milestone for agric sector
Agriculture Reporter
The Agricultural Finance Corporation has been revived and will now trade as the Land Agricultural Development Bank of Zimbabwe (LADBZ) to support the overall transformation process for accelerated development of the country.
The LADBZ will have four subsidiaries under it, including Agribank which will continue operating as it has been doing.
Announcing the board of directors for the LADBZ yesterday, Lands, Agriculture, Fisheries, Water and Rural Resettlement Minister, Dr Anxious Masuka said the bank was critical in the agricultural landscape.
“The LADBZ is a key institution which will immediately ensure there is a vibrant land bank,” he said. “Agribank will continue to do what it has been doing, but diversify into other activities, all inclusive. The LADBZ will also ensure there is a leasing company which will provide services to farmers.
Agriculture recovery in motion
Ministry of Lands, Agriculture, Fisheries, Water and Rural Resettlement
ZIMBABWE is an agrarian economy and has huge potential to produce enough for its people and surplus that can be exported to generate foreign currency. However, there is a puzzling divergence between increasing food requirements as a result of population growth and observed inadequate food production and insufficient productivity. This is posing a significant threat on national food security and is imposing unnecessary pressure on the fiscus as the country’s food import requirements increases.
Such an untenable situation has necessitated the Ministry of Lands, Agriculture, Fisheries, Water, and Rural Resettlement to develop the Agriculture Recovery Plan (2020 – 2023) to engender the envisaged agricultural transformation agenda aimed at six outcomes: food security, import substitution, diversified exports, value addition, employment, and improved incomes and standards of living
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