POSB Zimbabwe is now offering Belarus tractors to local farmers, secured by the government through the Ministry of Lands. With models ranging from 81 to 155 Hp, POSB provides flexible financing options, including a three-year plan at 7.5% interest. This initiative aims to facilitate agricultural mechanization and support farmers in improving productivity.
The People’s Own Savings Bank (POSB) Zimbabwe has commenced selling Belarus tractors to local farmers, as announced recently. The tractors, acquired by the government through the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development, aim to boost agricultural mechanization and productivity across the nation. POSB has been selected as one of the banks responsible for facilitating these sales.
POSB’s Chief Executive Officer, Garainashe Changunda, expressed, “We are pleased to inform interested farmers that they can now visit the Bank’s service centres with their application documents to purchase the tractors.” The available models include the 81 Hp, 107 Hp, 130 Hp, and 155 Hp tractors, aimed at fulfilling the various needs of local farmers to improve productivity and efficiency.
To ensure accessibility, POSB is offering flexible financing options in collaboration with the government. This includes a three-year repayment scheme with no collateral and a competitive annual interest rate of 7.5%. This initiative intends to alleviate the financial difficulties faced by farmers, aligning with President Dr. Emmerson Dambudzo Mnangagwa’s vision for the agricultural sector.
“This project aligns with our commitment to supporting the agricultural sector and empowering local farmers with the tools they need to succeed,” stated Changunda. The tractors will be available not only to individual farmers but also to registered agribusinesses, cooperatives, and irrigation schemes, provided they meet certain requirements.
Prospective buyers are required to establish a farmer’s account and submit necessary documents, which include a cover letter, security of tenure, a detailed project proposal, and a payment plan. Farmers interested in purchasing can visit any POSB service center or contact the Bank’s SMEs and Agribusiness unit via email at Smeandagribusiness@posb.co.zw for more information and application details.
In summary, POSB Zimbabwe has initiated the sale of Belarus tractors to support local farmers, enhancing agricultural mechanization in the country. With various models available and flexible financing options, this initiative aims to make essential farming equipment more accessible. The collaboration with the government underscores the commitment to empowering the agricultural sector, helping to ensure sustainable and productive farming practices across Zimbabwe.
Original Source: www.newzimbabwe.com
