POSB Zimbabwe is now selling Belarus tractors to local farmers with flexible financing options. The tractors are part of a government initiative to enhance agricultural productivity. Farmers can access models ranging from 81 Hp to 155 Hp with a 3-year repayment plan and a low interest rate. Various eligibility criteria apply for interested buyers, and inquiries can be made at POSB service centers or through email.
The People’s Own Savings Bank (POSB) in Zimbabwe has commenced sales of Belarus tractors, procured by the government to aid local farmers through the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development. This initiative aims to enhance agricultural mechanization and productivity in the region, with POSB being one of the designated banks to facilitate these sales.
Farmers interested in these tractors can visit POSB service centers to submit their application documents. The offerings include various models—81 Hp, 107 Hp, 130 Hp, and 155 Hp—designed to meet diverse agricultural needs and improve efficiency and productivity for local farmers.
POSB, in collaboration with the Ministry, is providing flexible financing solutions. This includes a three-year repayment plan without requiring collateral and a competitive interest rate of 7.5% per annum. The goal is to alleviate financial pressures on farmers, allowing them to invest in necessary machinery in alignment with President Dr. Emmerson Dambudzo Mnangagwa’s vision for agricultural advancement.
According to POSB CEO Garainashe Changunda, this initiative supports the agricultural sector by making tractors accessible to a broader range of farmers, thereby contributing to the sustainability and growth of agriculture in Zimbabwe. The tractors are available to individuals, registered agribusinesses, farming cooperatives, and irrigation schemes.
Eligible farmers must meet certain criteria, which include maintaining a farmer’s account, submitting a cover letter, providing security of tenure documents, and outlining a detailed project proposal and payment plan. Interested farmers can either visit a POSB service center or reach out to the Bank’s SMEs and Agribusiness unit via email at [email protected] for application details.
POSB’s initiative to sell Belarus tractors is a strategic move to bolster the agricultural sector in Zimbabwe by providing flexible financing options tailored to farmers’ needs. With various tractor models available, local farmers can significantly enhance their productivity. This project not only adheres to the government’s agricultural advancement strategy but also supports farmer empowerment through manageable financing solutions.
Original Source: www.newzimbabwe.com
