Zimbabwe starts AFC Land Bank to finance farmers

[gout]

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Perfect moves akin Kenya. They should borrow from the cooperatives revolution in Kenya.

The was no way settler banks were going to finance the peasant after the Mugabe land seizures.

GOVERNMENT is transforming Agribank into the Agricultural Finance Corporation (AFC) Land Bank to meet increased appetite for farmers' financing needs.

This is expected to oil the transition from land reform to productivity and profitability through filling the gap left by banks that have been reluctant to provide loans to farmers without collateral and preferred security of tenure, including the 99-year leases and offer letters.

President Mnangagwa is expected to launch the AFC Land Bank soon.

Farmers who have struggled to get financial support outside Government agriculture programmes like Command Agriculture, have welcomed the development.

It will target the 18 000 (A2 farmers) and 360 000 (A1 farmers), at least 35 000 villages and 1,8 million households across the country who are expected to get production loans.

Government has been reluctant to accede to demands by banks to have 99-year leases that are transferable as collateral saying it was an overt attempt to reverse the land reform programme.

[Arcadian_Dreamer]

Without a stable currency all their efforts will come to nothing. It is a lesson we will learn too as the shilling relentlessly nudges down against the dollar in light of the huge debts incurred by Uhuruto.

[RV Pundit]

Yes fix the MACRO-ECONOMICs first. Micro-economics will fix itself. STABILIZE THE BIG SHIP - and boats will be okay - they will dance to big ship waves and tides.

Zim are wasting time.

Fix macro-economics.

Without a stable currency all their efforts will come to nothing. It is a lesson we will learn too as the shilling relentlessly nudges down against the dollar in light of the huge debts incurred by Uhuruto.

[Arcadian_Dreamer]

Yes fix the MACRO-ECONOMICs first. Micro-economics will fix itself. STABILIZE THE BIG SHIP - and boats will be okay - they will dance to big ship waves and tides.

Zim are wasting time.

Fix macro-economics.

Yep. Stability isn't everything, but everything is nothing without stability.

Countries with a poor track record of Central bank paper money printing, a weak rule of law, and unethical citizens should dollarize. Remove the discretion for money printing from politicians hands. There is a reason CFA Franc has had low inflation, it is because France regulates it.

[gout]

Uncaptured peasants with food and shelter will just do fine. Ain't this one way of arresting inflation with less spending on food imports given no pathway out of debt distress?