Zimbabwe: Capital Injection for Land Bank

16 September 2021

Government has agreed to a faster and robust recapitalisation route for the Agricultural Finance Corporation, trading as the Land and Agriculture Development Bank of Zimbabwe (LADBZ) to make it the biggest bank in Zimbabwe in the next six months.

This comes as the Ministry of Lands, Agriculture, Fisheries, Water and Rural Resettlement has created incubators where young people can be trained to become successful farmers before they can access land.

The sentiments came out yesterday during the announcement of additional board members for the AFC and Agricultural Rural Development Bank (ARDA).

The appointments for ARDA are with effect from August 5 and their tenure ends concurrently with that of the already running board on May 22, 2023.

The AFC appointments were made with effect from August 27 and term of appointment will expire concurrently with the of the running board on March 4.

Ms Paidamoyo Matsaira and Ms Mazvita Sheila Chidawu were appointed to the ARDA board while Engineer Harrison Basikoro, Ms Shingirayi Gundu, Ms Ntokozo Mkandla and Ms Mazvita Shumba were appointed to the AFC Leasing Company board.

Announcing the appointments, Lands, Agriculture, Fisheries, Water and Rural Resettlement Minister Dr Anxious Masuka said the appointments were key in the transformation of the sector and the economy.

He said the appointment of additional members was done to address the gender balance in the boards.

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