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BRIEF PRESENTATION. BACKGROUND. LAND BANK (1920) AGRICULTURAL FINANCE CORPORATION AGRIBANK (COMMERCIAL BANK - 1999) AGRICULTURAL DEVELOPMENT BANK OF ZIMBABWE (2003) SHAREHOLDING 100% GOVERNMENT OWNED MINISTRY OF FINANCE – 50% MINISTRY OF AGRICULTURE – 50%. LEGAL FRAMEWORK.

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Background
BACKGROUND

  • LAND BANK (1920)

  • AGRICULTURAL FINANCE CORPORATION

  • AGRIBANK (COMMERCIAL BANK - 1999)

  • AGRICULTURAL DEVELOPMENT BANK OF ZIMBABWE (2003)

    SHAREHOLDING

  • 100% GOVERNMENT OWNED

    • MINISTRY OF FINANCE – 50%

    • MINISTRY OF AGRICULTURE– 50%


Legal framework
LEGAL FRAMEWORK

  • ESTABLISHED BY AN ACT OF PARLIAMENT

  • REGISTERED BY THE COMPANIES ACT

  • REGISTERED AS A FINANCIAL INSTITUION:

    • REGISTRAR OF BANKS (MINISTRY OF FINANCE)

    • COMMERCIAL BANKING LICENCE (RBZ)

    • AGRICULTURAL FINANCE ACT (TO BE AMMENDED – AGRICULTURAL DEV. BANK


Mandate
MANDATE

  • SUPPORT THE LAND REFORM PROGRAMME

    • PROVISION OF FINANCIAL RESOURCES:

      • NEWLY RESETTLED FARMERS

        • A1 MODEL (6 HA)

        • A2 MODEL (400 HA)

      • SMALL SCALE COMMERCIAL FARMERS

      • EXISTING LARGE SCALE COMMERCIAL FARMERS


Types of funding
TYPES OF FUNDING

  • PUBLIC SECTOR INVESTMENT PROGRMME (GVT) (50%)

    • A1 FARMERS

    • SMALL SCALE COMMERCIAL FARMERS

    • COMMUNAL FARMERS

  • AGRICULTURAL SECTOR PROGRAMME ENHANCEMENT FACILITY (RBZ) (50%)

    • A2 FARMERS

    • LARGE COMMERCIAL FARMERS

  • DEPOSITORS FUNDS (MARKET RATES)

    • NON-AGRICULTURAL PROJECTS (5%)

    • BRIDGING FINANCE FOR AGRICULTURAL BORROWERS


Programmes funded
PROGRAMMES FUNDED

  • INFRASTRUCTURAL DEVELOPMENT

    • DAM CONSTRUCTION

    • BORE-HOLE DRILLING & EQUIP.

    • IRRIGATION FACILITIES

  • FARM IMPLEMENTS AND EQUIPMENT

    • COMBINE HARVESTORS

    • TRACTORS

    • PLOUGHS, HARROWS ETC.


Programmes funded cont
PROGRAMMES FUNDED CONT.

  • HORTICULTURE

    • FLOWERS (ROSES, HYPERICUM …..)

    • VEGETABLES

      • EXPORT CROPS

        • PEAS, CARROTS, BABY CORN, TOMATTOES, BEANS

      • LOCAL MARKET

        • POTATOES

        • CABBAGES

        • CARROTS,……

    • CITRUS: ORANGES, MANGOES, APPLES, PEACHES, …


Programmes funded cont1
PROGRAMMES FUNDED CONT.

  • LIVESTOCK PRODUCTION

    • BEEF CATTLE

    • DAIRY

    • SMALL STOCKS

      • GOATS

      • SHEEP

    • PIGGERY

    • POULTRY

      • BROILERS

      • LAYERS

    • CROCODILE FARMING


Programmes funded cont2
PROGRAMMES FUNDED CONT.

  • SEASONAL FINANCE

    • GRAINS & CEREALS

      • MAIZE, WHEAT, SOURGHAM….

    • TOBACCO (LARGEST FOREX EARNER)

    • COTTON

    • ALL OTHER CROPS

  • AGRO PROCESSING


Challenges
CHALLENGES

  • SHORTAGE OF FOREIGN CURRENCY

  • INADEQUATE FUNDING

  • COLLATERAL REQUIREMENTS

  • SHORTAGE OF INPUTS

  • DROUGHTS

  • BAD DEBT PROVISIONS

  • LOW MARGINS – SHAREHOLDER (COMMERCIAL ACTIVITIES)


Bank performance
BANK PERFORMANCE

  • REGISTERED LUKEWARM PROFITS – 2003 – 2005

  • OUTPERFORMED ALL COMMERCIAL BANKS IN THE UNAUDITED HALF YEAR RESULTS TO JUNE 2006 (PAT US$10M – TREASURY ACTIVITIES)

  • ADEQUATELY CAPITALISED (Z$1 BILLION = US$4M)

  • FIVE YEAR STRATEGIC PLAN

    • OPPORTUNITIES FOR WOMEN FARMERS IN ZIMBABWE

      • IDENTIFY AT LEAST 10 WOMEN IN 10 PROVINCES

    • SMES (RBZ = US$64M; AGRIBANK = US$2.5M)

    • COURSE ON MICROFINANCE – INVALUABLE FOR AGRIBANK’S STRATEGIC DEVELOPMENT OF SMES.


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