Farmers hail US$55m horticulture deal

FARMERS have welcomed NMB Bank’s decision to lend up to US$55 million towards horticultural production, saying the move will help to grow the sector.

They are also optimistic that new opportunities will open doors to further expand the horticulture sector.

The bank is a big supporter of the horticulture industry with most farmers, especially in the blueberry sub-sector having received financial support from the finance institution.

So far the subsector is generating US$70 million, far more than the US$30 million which was produced in the previous years, so the Government is targeting to generate export proceeds of US$143 million by the end of next year.

As a way of improving the sector, the Government also launched a US$30 million Horticulture Export Revolving Fund to enhance the horticulture sector’s contribution to the growth of the country’s export earnings and economic growth.

The funding was basically focusing on supporting horticultural farmers and those involved in exports.

Mrs Maria Mushupe of Goromonzi who is into vegetable and tomato production indicated that financial institutions are critical in partnering farmers so that they increase production.

She added that improved access to markets and the provision of loans and revolving funds would play a critical role in supporting the horticulture sector.

“There is need to implement initiatives to ensure the horticulture sector is indeed flourishing countrywide and farmers should meet and share knowledge and skills on how best they can boost the sector,” he said.

Zimbabwe Indigenous Women Farmers Association Trust president, Mrs Depinah Nkomo, said it was critical to empower smallholder farmers on infrastructural development and also on market requirements.

“Smallholder farmers, especially women, require irrigation infrastructure so they can produce high value crops throughout the year. Some of the women have the zeal to produce but lack technical expertise and do not have adequate information on the market requirements,” she said.

Another farmer, Mrs Charity Musengi of Dema who specialises in tomatoes and onion production, has welcomed the development saying that lack of finance was the major issue affecting horticultural farmers. Lack of access to markets was another major setback for most horticulture farmers and improved access to diverse markets was a needed Government initiative.

“There is need to improve access to markets through the establishment of a horticultural markets standards body to ensure that horticulture farmers get maximum profits,” said Mrs Musengi.

NMB Bank Zimbabwe and Rabo Partnerships entered into a multi-year partnership aiming to support NMB to become a major lender in the food and agribusiness sector and to play a catalytic role in the development of the agricultural ecosystem of the country.

The goal being to facilitate access to financing within both the wholesale markets and among smallholder farmers.

NMB aims to establish strategic partnerships within key segments, including horticulture, grain and oilseeds, as well as dairy and poultry value chains.

Horticulture can grow fast since Zimbabwe is well placed geographically and climatically to produce fresh and pure produce on good soils, using pristine water and a variety of climatic conditions.

Under the Presidential Rural Horticulture Transformation Plan, 2,3 million households will benefit from fruit production and village nutrition gardens this year.

Zimbabwe hosts the second horticulture investment forum today, to explore ways of growing the sector.

Farmers, investors and policymakers will discuss ways of fulfilling Zimbabwe’s vast potential to become a global player.