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Nqobile Bhebhe,[email protected]

PEOPLE’S Own Savings Bank (POSB), one of the banks selected by the Government to resell Belarus tractors to local farmers has announced that the tractors are now available for purchase through the bank.
The tractors were secured by Zimbabwe through the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development as part of an initiative to enhance agricultural mechanisation and productivity across the country.
To make the programme accessible to more farmers, POSB Zimbabwe, in partnership with the ministry, is offering flexible financing options.
These include a three-year repayment period with no collateral required and an attractive interest rate of 7.5 percent per annum.
The initiative aims to reduce the financial burden on farmers, enabling them to invest in essential machinery without undue stress.
In a statement, POSB chief executive officer Mr Garainashe Changunda urged interested farmers to visit the bank’s service centres with their application documents to purchase the tractors.
“As part of our commitment to transforming livelihoods and fostering sustainable agricultural practices, POSB Zimbabwe is pleased to offer a range of tractors from Belarus, including 81 Hp, 107 Hp, 130 Hp, and 155 Hp models,” he said.
“These tractors are designed to meet the diverse needs of farmers, ensuring they have the right tools to enhance their productivity and efficiency.
“This project aligns with our commitment to supporting the agricultural sector and empowering local farmers with the tools they need to succeed. By offering flexible financing options, we aim to make these tractors accessible to as many farmers as possible, ultimately contributing to the growth and sustainability of Zimbabwe’s agriculture.
“We are thrilled to partner with the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development as one of the resellers of the Belarus tractors to our local farmers,” said Mr Changunda.
He added that the tractors are available to individual farmers, registered agribusinesses, farming cooperatives, and irrigation schemes. Interested parties must meet specific criteria, including having a farmer’s account, providing a cover letter, security of tenure documents, a detailed project proposal, and a payment plan, among other requirements.
The mechanisation of the agricultural sector plays a crucial role in driving the country’s agro-based economy forward.
Zimbabwe aims to increase agriculture’s contribution to the gross domestic product (GDP) from the current 20 percent to 33 percent.
The initiative is also expected to help farmers transition into middle-income groups, supporting the country’s vision of becoming an upper-middle-income economy by 2030.
In 2018, President Mnangagwa engaged his Belarusian counterpart, President Alexander Lukashenko, to support the farm mechanisation programme through the supply of farm equipment and the training of local farmers in cultivation, seeding, irrigation, and crop harvesting.
In February 2024, President Mnangagwa commissioned 1,635 tractors, 16 combine harvesters, and other farming equipment under the US$66 million Belarus Phase 2 Mechanisation Facility.
The first phase of the facility had earlier delivered 474 tractors, 60 combine harvesters, 210 planters, and five low-bed trucks to farmers.