Mnangagwa dangles US$2 billion loan facility to farmers

📅 Published: August 26, 2025

📰 Source: newzimbabwe

Curated by AllZimNews.com

Speaking at the launch of the productivity booster kit programme in Mazowe on Monday, Mnangagwa said the equipment will be made available to tobacco smallholder farmers. “My Government plans to allocate US$1. 98 billion over 10 years as a loan for the Productivity Booster Kit Programme.

Additionally, five banks have committed to providing additional working capital. “The Productivity Booster Kits will also be made available to smallholder tobacco farmers, to localise the procurement of farming equipment and other aspects of the tobacco value chain,” said Mnangagwa.

A total of 10,000 farmers have been targeted to benefit from the first phase of the programme, with each receiving US$6,000 for the acquisition of the productivity booster kits.

According to Mnangagwa, as a result of the kits, A1 farmers are estimated to contribute US$6. 14 billion to the agricultural sector GDP from the envisaged production of 10 million tons per year.

The productivity kits are earmarked to alleviate the country from the consequences of climate change.

Mnangagwa further said the target is to irrigate more than 400,000 hectares of land by 2030. “The devastating effects of the El Niño-induced drought during the 2023/2024 season, among other experiences, have shown us the urgent need to climate-proof agriculture.

To this end, we have set for ourselves an ambitious and achievable target to develop 496,000 hectares of land under irrigation by 2030, with over 350,000 hectares under summer cereal production,” he added. 🔗

” style=”color: #007bff;”>admin@allzimnews. com.

Get the complete story and stay updated with the latest Zimbabwe news