Zimbabwean farmers are set to receive US$10 million cash injection ahead of this year’s planting season. The state-owned enterprise has been granted US$10 million, earmarked specifically for settling debts owed to farmers who have delivered grain.
The announcement was made by the GMB’s chief executive officer, Dr Edson Badarai, during the 22nd Zanu PF Annual National People’s Conference held in Mutare. Dr Badarai was keen to emphasise the importance of this disbursement, noting it comes hot on the heels of another substantial payment. He stated,
“This new tranche was in addition to the US$5 million disbursed to the GMB about two weeks ago.”
This cumulative funding now covers a significant 80 percent of the required payments for summer deliveries in United States dollars, providing much-needed liquidity to the agricultural sector.
The financial support is seen as a vital lifeline for farmers who are currently investing in inputs and labour for the new season. Dr Badarai addressed the farming community directly, saying,
“These payments are critical during this period when farmers are busy preparing for the current season.”
He further expressed his gratitude for their patience and unwavering commitment, which he described as essential for enhancing the country’s strategic grain reserve.
Farmers Set To Receive US$10 Million Cash Injection
The GMB operates with a dual responsibility towards the nation’s agriculturalists. One segment consists of farmers enrolled in the Pfumvudza/Intwasa programme, who are under contract to sell their surplus produce directly to the board. For all other farmers, the GMB acts as the buyer of last resort.
This policy ensures that, regardless of market fluctuations, every farmer has a guaranteed purchaser for their grain at a pre-established price, a cornerstone of the government’s food security strategy.
The successful acquisition of these funds was attributed to high-level governmental intervention. Dr Badarai lauded the efforts of the Lands, Agriculture, Fisheries, Water and Rural Development Minister, Dr Anxious Masuka, for his proactive engagement with the Treasury.
This financial injection is aligned with a broader, ambitious government plan to accelerate agricultural transformation. This plan is supported by 21 key initiatives designed to make the nation self-sufficient in food production.
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The positive momentum is further echoed by a recent report from the Agricultural and Rural Development Advisory Services, which indicates that summer cropping preparations are advancing smoothly. In a related development, the Bankers Association of Zimbabwe has also pledged substantial support, committing ZIG53 million and US$66.65 million towards financing the upcoming season.
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The post Farmers Set To Receive US$10 Million Cash Injection Ahead Of Planting Season appeared first on iHarare News.
