ED HANDS OVER US$7,4 MILLION TRACTORS

President Mnangagwa has handed over 72 tractors and 10 combine harvesters sourced from Belarus with a combined value of US$7,4 million to youths to boost their participation in agriculture.

He also announced a complementary initiative worth US$10 million to set up irrigation systems for Youth Business Units, as he delivers on his promise to facilitate young people’s participation in the economy. At the handover ceremony, which took place at the Agricultural Mechanisation Facility in Hatcliffe, Harare, yesterday, President Mnangagwa pledged to pay 50 percent of the total cost for the cutting-edge equipment from his own pocket.

The latest initiative is a follow up to the Presidential Youth Empowerment Revolving Fund which was launched by the President at the Harare International Conference Centre. The Government is buying tractors from Belarus to resell to farmers under flexible financing terms through Empower Bank.

The programme also comes with a three-year repayment period, no collateral and an interest rate of 7,5 percent per annum. For the Youth Mechanisation Facility, the President is paying US$3,7 million from his own pocket and youths will pay the balance.

Farmers accessing the facility will receive heavy-duty tractors, including the 81, 107, 130 and 155 horsepower models.

Overall, this year, the country will take delivery of 800 units of advanced farm equipment from Belarus, including over 700 tractors. Officiating at the event yesterday, Lands, Agriculture, Fisheries, Water and Rural Development Minister Dr Anxious Masuka said the equipment is intended to be distributed among youth business clusters as part of the Government’s broader strategy to modernise agriculture and create employment opportunities for young people.

“I appreciate and know the role of mechanisation as an enabler of agricultural modernisation, and accelerating agricultural transformation.

“It is in this regard that today we gather here to formally hand over 72 tractors and two of 10 combine harvesters availed by the President, His Excellency Dr ED Mnangagwa, to accelerate the transformation of the agricultural space,” said Dr Masuka.

He outlined the potential impact of the equipment.

“With 72 tractors, you can till on average, we say, one horsepower per one hectare . . . so, 72 tractors are able to do 7 700 hectares.

“So, it is an additional area that we want tilled for agriculture starting this winter and more importantly going into summer,” Dr Masuka said.

He further projected that the initiative could yield substantial returns.

“And once this area has been tilled, my expectation is that being youth, your average yield will be nowhere near or less than five tonnes per hectare and with two crops a year, it means that these tractors will enable 77 000 metric tonnes of grain to be delivered to the Grain Marketing Board and other marketers. My expectation therefore is that the value addition as a result of this intervention will be US$26 million,” Dr Masuka said.

The minister stressed the importance of accountability and proper utilisation of the equipment. Herald

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