Nhimbe Fresh Produce, one of Zimbabwe's biggest horticultural companies, is finalizing a funding structure to boost its out-grower base as it targets more export volumes. The company has already established its distribution hub in Dubai where it will move its products to various parts of Europe, CEO Dr Edwin Moyo said. Due to funding constraints largely resulting from their lack of collateral security, Nhimbe's grower base has shrunk by almost 50 percent from 500 farmers. This has also been compounded by insufficient power supplies for irrigation.
"The biggest problem for our smallholder farmers is funding because the local banks are reluctant to provide loans," said Dr Moyo in an interview. "So we are coming up with a flexible funding structure that will ensure they get funding on time."
At the moment, the farmers self-fund the production of their crops; then Nhimbe assists with taking the product to the markets. "We are hoping that the facility will help us to reach all corners of the country, all the provinces," said Dr Moyo.
To ensure the farmers produce high-quality crops; that meet export standards, Nhimbe, with partners, will provide extension services "to ensure best farming practices." The targeted crops include ginger, garlic, potatoes, fruits, cornflower, butternuts, watermelon, sweetcorn and red onions.
Source: herald.co.zw