By Derrick Silimina
The Zambia National Farmers’ Union (ZNFU) is pleased that the government has increased the agricultural financing facility from K400 million to K1.2 billion for the 2024/25 farming season.
Speaking during the fourth session of the 13th National Assembly, President Hakainde Hichilema noted that the increased agricultural financing facility is aimed at expanding support for the agricultural sector by including additional crops, livestock, and aquaculture in the facility.
In a statement, ZNFU President Jervis Zimba said the development could not have come at a better time when farmers have been selling the little livestock like small ruminants, chickens to raise resources for household sustenance and farming.
“It is gratifying to note that the number of participating financial institutions too has increased from five to nine, with expectations that more banks will join in due course. This expansion will provide broader access to financing, allowing more farmers to benefit and ensuring the inclusion of diverse agricultural activities,” Zimba said.
He urged the Ministry of Agriculture to publish the guidelines for one to access this facility and details of which are the participating banks adding that the information is very important as preparations for the new farming season is already underway and as such, timely access to this financing facility becomes of paramount importance.
On the energy front, the ZNFU took cognizance of the pronouncement by the Head of State regarding the commissioning of the construction of the 300 megawatts thermal power plant in Maamba although this power plant is expected to come on stream by mid-2026.
“Further, we heard that to diversify the energy mix and address the country’s current power deficit, ZESCO limited, with various partners, including those from China, is spearheading the development of several solar electricity projects. This is in addition to several private sector initiatives.”
