The Sunday Mail
Nomagugu Konke
Agribank has extended US$5 million support to small-scale sugarcane farmers in Triangle and Chiredzi, as the bank doubles assistance to growers compared to last year.
The facility, which saw 125 growers benefit in 2017, will this year be expanded to target 300 farmers.
The assistance is expected to increase sugarcane yields for ethanol production.
Agribank CEO Mr Somkhosi Malaba told The Sunday Mail that, “Agribank stands ready to support the whole operations of the sugarcane farming enterprise and to support those farmers expanding their sugarcane operations.
“We are lending farmers on a continuous cycle, (that is), for planting of the sugarcane, maintenance, harvesting and marketing. The expansion of sugarcane plantations and fields is an area that we are targeting to support.”
Mr Malaba said plans were underway to extend financial assistance to sugarcane farmers earmarked for the Tokwe-Mukorsi agricultural projects.
Zimbabwe Commercial Farmers Union president Mr Wonder Chabikwa said, “The money will help farmers increase sugarcane production. We are glad and grateful that there is such investment, though the figure is not enough. “More investments are required to optimise production. Farmers have, however, confirmed receiving the money and they are on the ground, working.”
The 2017 Zimbabwe Sugar Association Report shows that 43,094 hectares of sugarcane were harvested in the 2015/16 marketing season.
Production increased marginally to 43,500ha in 2016/17 on the strength of irrigation and the industry-initiated Agricultural Improvement Plan.
The report estimates 3,6 million tonnes of cane will have been produced by March 2018.
