Stanbic Bank Zimbabwe says it is scaling up agricultural financing to support mechanisation, irrigation and climate-smart farming, as government intensifies calls on the financial sector to back farming joint ventures seen as critical to food security.
The bank said access to “timely capital” is essential for building a resilient agricultural sector, adding that its agri-financing facilities are designed to support modern irrigation systems, mechanisation and sustainable production.
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Government has urged banks to play a more decisive role in funding joint venture farming models, which pair landholders with investors who provide working capital, equipment and inputs in return for shared returns. Agriculture permanent secretary Obert Jiri said the model is gaining traction across the sector. “We really appreciate the farmers that have embraced the JVs programme… so we are seeing a rise in these partnerships,” Jiri said.
Jiri said the growing uptake of joint ventures is helping unlock underutilised land and ease capital constraints that have historically limited productivity, but stressed that broader bank participation is needed to scale the model. “Stronger participation by banks and other financial institutions is essential to scale up the model,” he said.
Joint ventures have emerged as a key mechanism in strategic crops such as maize, wheat and soya beans
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