AUTHORITIES need to incentivise private sector financing for agriculture to bridge the yawning funding gap which has hampered the growth of the pivotal industry over the past few years.
This is a key finding of the 2022 Zimbabwe Agriculture Sector Survey, which is a brainchild of the Zimbabwe Agricultural Society (ZAS) and the country’s number one business publication, The Financial Gazette, in partnership with CBZ Bank.
It said with agriculture remaining the backbone of Zimbabwe’s economy, the country required more than US$1,2 billion a year to effectively fund the industry, as Harare continues to strive to breathe new life into the crucial sector.
One way that the government could help matters in this regard, the study noted, was to play a catalytic role that would create a conducive environment for mobilising funding into the sector.
This could include the provision of incentives to banks and companies funding farmers, the provision of funding into key infrastructure such as irrigation, road rehabilitation and the provision of electricity, i
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