by Elijah Chihota

Struggling soya bean farmers are set to benefit from a financing arrangement being rolled out by a Bulawayo-based edible oil processing company, United Refineries Limited (URL), which is targeting 15 000 metric tonnes during the forthcoming farming season.

“As United Refineries, we are giving an opportunity to farmers with at least 10 hectares of land to partner with us to grow soya beans under our Soya Bean Outgrowers Alliance (SOBOA),” said the company in a print media advertisement this week.

In order to assure farmers that they would not face financing challenges, the company undertook to act as a link between them and some banks for loans advanced given that most farmers have challenges accessing loans due mainly to lack of collateral security.

“We will assist with, a letter of guaranteed uptake plus help farmers to access finance from banks on a case by case basis,” assured the company.

To qualify for the SOBOA scheme, a farmer should have 10 hectares and farming syndicates are also accepted under the programme.

“Single farmers with 10 hectares and above, collective farming schemes or groups with 10 hectares and above as well as irrigation scheme operators targeting 15 000 metric tonnes on 7 500 hectares,” United Refineries explained.

United Refineries Limited was established in 1935 in Rusape as a small oil processing company before moving to Bulawayo. It is a leading producer of fast moving consumer brands in the personal care, hygiene and value-added agro-products that include Roil, Image, Star Bar and Olive Green Bar. Under the tutelage of Chief Executive Officer, Busisa Moyo, URL has been doing well of late despite shortages of soya beans.

Zimbabwe requires 300 000 tonnes of soya beans annually for production of edible oil and stock feed. Oil Expressers’ Association of Zimbabwe (OEAZ) requires 150 000 tonnes annually to produce cooking oil while farmers are producing an average of 60 000 tonnes per year.