POSB Zimbabwe is offering Belarus tractors to local farmers with flexible financing options. The initiative is part of a government effort to enhance agricultural mechanization and productivity. Farmers can visit POSB service centers to apply and learn more about available tractor models and financing terms.
The People’s Own Savings Bank (POSB) Zimbabwe has announced the availability of Belarus tractors for sale to local farmers. These tractors were procured by the government through the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development to enhance agricultural productivity in Zimbabwe. POSB is one of the designated banks authorized to distribute these tractors.
Garainashe Changunda, the Chief Executive Officer of POSB, stated that farmers interested in purchasing tractors can visit the Bank’s service centers with the necessary application documents. POSB offers various Belarus tractor models, including 81 Hp, 107 Hp, 130 Hp, and 155 Hp, which cater to the diverse farming needs.
In an effort to make these tractors accessible, POSB, in collaboration with the Ministry, provides flexible financing options. This includes a three-year repayment plan with no collateral required and a favorable interest rate of 7.5% per annum. This initiative aims to lessen the financial pressures on farmers and enable investment in crucial machinery, aligning with the vision of President Dr. Emmerson Dambudzo Mnangagwa.
Changunda emphasized the project’s alignment with POSB’s commitment to bolster the agricultural sector by empowering local farmers. The financing options are designed to support as many farmers as possible, enhancing the growth and sustainability of agriculture in Zimbabwe.
The tractors are available to various groups, including individual farmers, registered agribusinesses, farming cooperatives, and irrigation schemes. Interested buyers must meet certain criteria such as maintaining a farmer’s account and providing documentation including a cover letter and project proposal.
Farmers wishing to acquire these tractors can visit any POSB service center or email SME and Agribusiness unit at Smeandagribusiness@posb.co.zw for further information and application procedures.
In conclusion, POSB Zimbabwe has initiated a program for local farmers to purchase Belarus tractors through flexible financing options. This effort is designed to boost agricultural mechanization and enhance productivity across Zimbabwe, aligning with national agricultural goals. Interested farmers are encouraged to reach out to POSB for further details and to participate in this program.
Original Source: www.newzimbabwe.com
