Bulk of wheat farmers repay their command agriculture loans

By Tendai Munengwa

WHEAT farmers who benefited under Command Agriculture last year have received a thumbs up after 85 percent of them repaid their loans.

In a move expected to build confidence and trust between farmers and the financial sector, 85 percent of farmers who benefited under command agriculture have managed to pay back CBZ Agro-Yield Loan funds after delivering their wheat to the Grain Marketing Board.

“Many thanks go to our farmers as 85 percent of those who ventured into wheat production under command agriculture have fully paid back their loans to CBZ Agro-yield facility. This is commendable and we hope the same can be replicated in the summer crops then we will be assured of sustainable food security,” notes Walter Chigodora, CBZ Agro-Yield CEO.

Agriculture expert, Edward Chimedza described the loan repayment rate as a game changer which will build confidence and trust between the farmer and financial institutions.

“This 85 percent loan repayment will no doubt bring confidence on part of banks to lend more funds to farmers. By so doing this will boost productivity and cut the import bill as the country will become wheat self-sufficient,” he said.

This year, farmers have so far delivered more than 207 000 metric tonnes of wheat to the Grain Marketing Board, compared to 156 000 metric tonnes during the same period last year.