Zimbabwe's fertilizer industry has received a significant boost with the Mutapa Investment Fund (MIF) securing a $125 million facility from the African Export-Import Bank (Afreximbank). This funding will be used to capacitate the entire fertilizer value chain ahead of the 2025/2026 summer cropping season.
The funding will enable the procurement of raw materials for fertilizer production, guaranteeing Zimbabwe's self-sufficiency in fertilizer production. This move is expected to reduce fertilizer imports, increase confidence in the value chain, and ultimately benefit the country's agricultural sector.
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According to Mutapa Investment Fund Head for Agriculture and Industrials, Mr. Tatenda Chimusoro, the facility is being mobilized to support the production of fertilizers. "We are negotiating the facility on behalf of Afreximbank, and finer details of the plan will be rolled out in due course," he said.
Industrial Development Corporation of Zimbabwe's Group Chief Executive Officer, Mr. Edward Tome, said the facility will guarantee Zimbabwe's self-sufficiency in terms of fertilizer production. "We are looking forward to a situation whereby the fertilizer value chains will play a pivotal role in ensuring that fertilizer imports are reduced, thereby increasing confidence in the value chains," he added.
The Parliamentary Portfolio Committee on Industry and Commerce, led by Chairperson Honourable Clemence Chiduwa, visited Harare-based fertilizer producing firms to assess the industry's capacity. "The purpose of this visit is critical. I think it serves as a purpose for us to probe the sector, identify the challenges, and map the way forward," Honourable Chiduwa said.
The fertilizer industry plays a pivotal role in Zimbabwe's agricultural growth, and this funding is expected to have a positive impact on the sector.
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