Zimbabwe Banks Channel USD 200m into the Agricultural Sector

(3 Minutes Read)

Banks have pledged about USD 500 million annually to the sector, yet less than half of this amount has been accessed by farmers. A major limiting factor remains the lack of formal title deeds, which restricts farmers’ ability to use land as collateral for financing.

Zimbabwe’s banking sector has injected approximately USD 200 million to support the ongoing 2024-25 summer cropping season, underscoring renewed efforts to revitalise agriculture, a sector long regarded as the backbone of the nation’s economy.

Despite its critical importance, agriculture in Zimbabwe has faced persistent challenges, notably chronic underfunding and ongoing uncertainties over land ownership. Historically, banks have pledged about USD 500 million annually to the sector, yet less than half of this amount has been accessed by farmers. A major limiting factor remains the lack of formal title deeds, which restricts farmers’ ability to use land as collateral for financing.

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Lands, Agriculture, Water, Fisheries, and Rural Development Minister Dr. Anxious Masuka emphasized the pivotal role the financial sector plays in supporting agricultural growth.