Zimbabwe: AFC Leases Cheap Equipment

The days when farmers would require collateral to access mechanised equipment such as tractors and combine harvesters have passed following the introduction of the Agriculture Finance Corporation Leasing Company, which is providing farmers with the service at an affordable fee.

Lands, Agriculture, Fisheries, Water and Rural Development Secretary Permanent Dr John Basera said Government had come up with a cocktail of measures to cushion those farmers without collateral but with potential by creating conducive environment that maximise their agriculture yields.

Dr Basera said this on Friday in an interview with journalist, Lee Ann Bernard on her social media page.

He said there were also finalizing discussions with financial institutions to ensure that Government’s 99-year leases were bankable and acceptable.

Dr Basera said there was nothing that stopped a viable project to be bankable.

“There is incredible progress in making our 99-year leases bankable,” said Dr Basera.

He said several farmers had also accessed mechanisation services from AFC under a leasing agreement which the financial institution is currently providing.

“I am aware of many farmers who have been assisted under the AFC Leasing Company who had no collateral. We created a vehicle at AFC to lease equipment. We have got to a point where a farmer does not necessarily need to own a tractor or combine harvester but can still access the service.