STAFF WRITER
Government is set to fund horticulture production to the tune of US$30 million in Zimbabwe’s bid reclaim its position as one of the top three horticulture producers globally.
This was revealed by Information and Publicity Minister Mutsvangwa on Tuesday in a post cabinet media briefing.
She said the Horticulture Export Revolving Fund will be financed to the tune of US$30 million supporting horticuture production companies with foreign currency requirements.
“The Horticulture Export Revolving Fund will be financed to the tune of US$30 million in order to support export-oriented horticultural production companies with their foreign currency requirements,” she said.
Government is using part of the Special Drawing Rights (SDRs) received from the International Monetary Fund (IMF) to breathe life into productive sectors of the economy such as agriculture.
Mutsvangwa said horticulture has been identified as a low hanging fruit in the agriculture productive sector and the setting up of Horticulture Export Revolving Fund is believed to be the best way to revive vibrant horticulture production.
“In the agriculture productive sector, priority has been placed on horticulture and irrigation development. Treasury has, therefore, engaged stakeholders in the horticulture export sector on the modalities for the establishment of the Horticulture Export Revolving Fund, in line with the Horticulture Recovery and Growth plan,” Mustvangwa said.
She added that Zimbabwe is endowed with best agro-ecological regions suitable for horticulture production presenting an opportunity to reclaim its glory as one of the top three horticulture producers globally.
“Horticulture is one of the key sub- sectors of the agricultural sector in Zimbabwe, with substantial potential of successful production across all agro-ecological regions. Zimbabwe was among the top 3 horticulture producers in the world after the Netherlands and Equador up to 2002. The Second Republic intends, through the Revolving Fund, to restore Zimbabwe’s former glory,” Mutsvangwa said.
She said the Horticulture Export Revolving Fund facility will be accessed through normal banking channels with applicants submitting their requests to participating banks with requisite information.
Zimbabwe used to pride itself as one of the top horticulture producers globally before the controversial land reform programme, at the turn of the millennium, changed the country’s fortunes.
