Published: 29 October 2013

The Zimbabwe Agricultural Development Trust (ZADT) has so far disbursed at least $11,5 million to 109 intermediary agricultural value chain actors under its CREATE fund, an official said on Monday.

A Government and private sector initiative, the revolving fund which was launched last year seeks to address liquidity challenges through provision of soft capital to agriculture value chain actors with strong links to small holder farmers.

Targeted beneficiaries include agro-dealers namely community based retailers of agricultural inputs such as fertilizers and seed, small to medium scale processors involved in buying and value addition of agricultural produce from small holder farmers as well as contracting companies.

The CREATE fund also seeks to increase profitability to smallholder farmers who do not have easy access to agricultural inputs.

The fund is channeled through three financial institutions FBC, NMB and TN Bank and is mainly meant to assist small scale farmers to access loans to boost productivity.

ZADT chairperson Ms Soneni Ncube said the fund was currently worth $15 million with plans afoot to grow it to $30 million.

"At least $11,5 million is already loaned out to 109 intermediary agricultural value chain actors benefiting 25 000 small holder producers at 11,5 percent per annum," she said.

Ms Ncube said agricultural processors, traders, contracting companies, wholesalers, transporters and agro dealers had benefited from the fund so far.

Analysts contend that the CREATE funds would assist in boosting agricultural production and also aid in reducing food imports that have flooded the local market.



- New Ziana