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(HERALD) Interfin Bank secures 335 000 tonnes fertiliser

Interfin Bank secures 335 000 tonnes fertiliser
Agriculture Reporter

Interfin Bank has secured 335 000 tonnes of ammonium nitrate and compound C fertilisers worth US$230 000 for smallholder tobacco farmers who are members of the newly formed Zimbabwe Progressive Tobacco Farmers’ Union. The inputs will be accessed on a loan basis and farmers will repay through stop orders after selling their crop.

Unveiling the inputs in Harare yesterday, Interfin’s assistant general manager (corporate banking), Mr Ennocent Chidawanyika, said: "We have put aside US$2 million to be disbursed in batches for the procurement of more inputs.

"It will all depend on the performance of the farmers, but as a bank we are convinced it is a noble cause to help them."

The bank will soon procure another 1 320 tonnes of fertiliser and make available US$105 000 for the ZPTFU’s executive to buy vehicles to ease mobility challenges.

Mashonaland West will receive 90 000 tonnes, Mashonaland Central (120 000), Mashonaland East (95 000) and Manicaland (20 000). Altfin Insurance has provided the farmers with policies. Media, Information and Publicity Minister Webster Shamu — who is the ZPTFU patron — challenged other companies to emulate Altfin and Interfin’s example and assist farmers.

He, however, warned that unscrupulous international organisations were infiltrating farmers’ organisations with funding so that they could control them and influence them against Government. "We are going to expose such organisations and if there are locals working with them, then they should cease to be bedfellows immediately," said Minister Shamu.

He said some merchants were ripping off smallholder tobacco farmers by buying their tobacco for a song and reselling it at higher prices. "In order to stop this, ZPTFU needs to engage tobacco experts and ethical companies to participate in value addition, which will benefit members as shareholders.

"ZPTFU should come up with plans to get into the cigarette manufacturing industry."

He called for agricultural mechanisation to improve production. ZPTFU was formed at President Mugabe’s behest when he visited the tobacco auction floors earlier this year and witnessed farmers’ plight at the hands of merchants.

Labels: INTERFIN BANK, WEBSTER SHAMU

posted by MrK @ 3:13 AM