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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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