By Staff Reporter
Fertilizer producing firm, Sable Chemicals has secured US$1.4 million to procure raw materials for the production of fertilizers ahead of the 2020/21 cropping season.
Minister of Information, Publicity and Broadcasting Services, Monica Mutsvangwa, yesterday in the 38th Post Cabinet Press Briefing said the money was raised locally.
“Sable Chemicals has accessed US$1.4million in foreign currency through the auction floor system which is sufficient to import Ammonia to produce 5 500 metric tons of Ammonium Nitrate (AN) fertilizer,” she said.
“The project will support the Agricultural Recovery Plan through the provision of affordable local fertilizer, and ultimately enhance production and reduce reliance on food imports,” said Mutsvangwa.
Mutsvanga also said to further boost agricultural production, Zimbabwe Women Microfinance Bank was supporting small holder farmers with inputs and farm implements.
“The bank accords importance to agriculture as an enterprise, and is supporting farmers under the Pfumvudza/Intwasa household food security initiative and livestock programs.
“Cabinet was informed that a total of 6 715 beneficiaries received a cumulative ZW$27 013 448 covering June, July, August and September 2020 through 402 Conventional Loans, 5 922 Mobile Loans, and 391 Asset Financing Loans. The Bank developed a loan product, Katsaona in partnership with Net One for ease of access by beneficiaries in remote areas,” She said.
Government continues to support the agriculture sector, for the 2020/21 cropping season, fertilizer will be supplied to farmers through CBZ Agro-yield, ZFC and Omnia.
Agriculture is the country’s second foreign currency earner after minerals. The export products include sugar, coffee, tobacco, cotton, macadamia nuts and oranges.
