ZAS calls for land bank establishment

ZAS calls for land bank establishment

Financial Gazette

6/2/2020

THE Zimbabwe Agricultural So­ciety (ZAS) has urged govern­ment to establish a land bank as a way of resuscitating the country’s agriculture sector.

Anxious Masuka, the society’s chief executive, said most farmers are failing to ramp up production due to lack of access to cheap financing.

“A more sustainable and inclusive financing model should be found…a model that can be sensitive to the re­quirements of over 145 000 Al farm­ers and 1,6 million rural households, “he said, adding that the strategy should also allow farmers to borrow for capi­tal projects, irrigation projects, equip­ment purchase, infrastructure develop­ment and rehabilitation.

“Such a model requires a dedicated land bank for registration of all per­mits, leases and offer letters as collat­eral, warehousing receipts and provid­ing seasonal and developmental loans based on offer letters, backed initially by government guarantees.”

The southern African country’s first land bank was established in 1924 and was instrumental for agriculture successes registered in Rhodesia.

But with about 54 percent of the country’s farmers residing in poorly developed rural areas, Masuka said there was need for collaboration and synergies of all sectors.

“A vibrant agricultural sector leads to a vibrant and competitive manufac­turing base, and breeds opportunities for growth in infrastructure, tourism and services, while complimenting re­source exploitation activities,” he said.

This has resulted in this year’s agricultural show — to be held from August 24 to 29 — running under the theme “Synergies for Growth: Coop­erate. Collaborate. Complete.”

Masuka said the theme supports the resource-based strategy adopted for the country’s accelerated econom­ic development towards vision 2030.

“This year’s theme seeks to high­light the need to harness and align national efforts towards sustainable agricultural production for national food self-sufficiency, amidst recurrent droughts, climate change and disjointed efforts by actors in the agricultural value chain and supporting ecosys­tems,” he added.

Meanwhile, ZAS saw its revenues increasing by 300 percent to $10,8 million last year up from $2,7 million in 2018.

Noah Matimba, the ZAS honorary treasury, last week said show income continued to be the dominant source of revenue and profit, account­ing for 74 percent of total income. — Staff Writer

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