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Chinese firm unveils US$20m Mining, Agric Loan Facility in Zimbabwe

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Chinese firm unveils Us$2om Mining, Agric Loan Facility in Zimbabwe

Chinese firm, Lovol International Construction Machinery Group, has unveiled a US$20 million equipment loan facility to benefit youths and women in the mining and agricultural sectors.

Lovol, represented by its regional director for East and Southern Africa Mr Terry Song, signed a memorandum of Understanding with the Affirmative Action Group (AAG) represented by its president Mr Mike Chimombe to provide mining and farming equipment, including tractors, electric tricycles, combine harvesters, planters, irrigation equipment, solar systems and electric cars.

The company showcased some of the machinery during the signing ceremony in Harare yesterday.

Mr Song said the company will be supporting the Government of Zimbabwe in growing the country’s economy in line with Vision 2030.

“We have the appetite to change the complexion of the economy and we realise that Zimbabweans have got a lot of potential and a missing link was the equipment. Hence we brought in the solution in terms of the equipment. The equipment that we have will certainly be able to give the solution. We have brought equipment that works for agriculture, mining and even road construction. These MoUs we have signed will go a long way in achieving vision 2030.

“Lovol is one of the biggest group in China. We have all kinds of equipment be it mining, agriculture, energy and green power as well. We intend to invest in Zimbabwe to complement Government’s efforts to achieve vision 2030 through capacitating the productive sectors of the country’s economy. Zimbabwe has abundant resources which are untapped, hence the need to bring the equipment to harness the vast mineral resources.”

Mr Terry said China was committed to make Zimbabwe an economic hub. “Together we can make Zimbabwe great.”

He also said that his company will also bring experts to Zimbabwe to service the machinery.

AAG sourced the equipment on behalf of the youths and women in mining and agriculture and will identify the particular individuals and groups who qualify for the equipment.

AAG vice president in charge of operations Mr Munyaradzi Kashambe said: “The signing of the MoU is in line with Vision 2030 .

“As the AAG we are of the strong conviction that the dream of an upper middle income economy by 2030 is indeed achievable earlier than that if we as Zimbabwe remain united and put all hands on deck and support our President. The AAG also believes in the potential of mining and agriculture as the backbone of our economy,” said Mr Kashambe.

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The coming in of Lovol is one of the fruits of President Mnangagwa’s engagement and re-engagement thrust and the policy of ensuring Zimbabwe is open for business.

“Let us all support the President’s Vision 2030 and make Zimbabwe great as per his dream. We urge all entrepreneurs to take advantage of the unending opportunities which the Second Republic has unveiled across all sectors.

“Through this partnership the US$12 billion mining economy by 2023 is indeed achievable. This deal benefits all women, youths and every Zimbabwe who are serious about the country’s economic development and Vision 2030 in general.

“As the AAG we are thankful to the visionary leadership of President Mnangagwa and will not leave any stone unturned in supporting the great vision he has for our country,” he said.

Speaking at the same occasion, AAG vice president for women and minorities Ms Anastancia Ndhlovu said the MOU was a game-changer so far as the empowerment of women, and girls and students was concerned.

“They can now access equipment and be active participants in the lucrative male dominated mining and agriculture sectors and so contribute to the country’s economic revival agenda in line with Vision 2030 and the NDS1. I urge all women and students to take advantage of this facility to set up or grow their businesses,” said Ms Ndhlovu.

Read the original article on The Herald.

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Manicaland Province clocks 95 % of wheat target

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MNICALAND Province has increased its winter wheat hectarage from two thousand hectares planted last year to over six thousand hectares this season.

Manicaland Provincial Agritex Officer, Mrs Philipa Rwambiwa has expressed optimism that the province will meet its 36 thousand tonne winter wheat target with at least six thousand, six hundred and eleven (6 611) hectares having been planted.

“We had a target of 7 thousand hectares of wheat of which we have done 6611 hectares. This is 95% of what we had targeted. We are happy with this achievement because earlier on last season we had almost 2 thousand hectares so this is almost times three what we did this season…,” she said.

Mrs Rwambiwa added that the winter wheat season has largely been successful due to uninterrupted power supply in the country.

“We almost did about 45% of the grain requirements for the province and we are also augmenting the requirement by producing winter maize and so far we have done almost 700 hectares and more is being planted…,” she said.

The Pfumvudza training programme meant to improve food security in the country through the crop production intensification approach, is also on course with over a hundred thousand farmers having been trained so far.

“We have around one hundred and three (103) thousand farmers who have been trained and of those 103 thousand farmers trained, about 20 thousand have prepared their plots and are awaiting their inputs and we are expecting an early delivery before 1 September…., ” she said.

Manicaland is expected to contribute 36 thousand tonnes to the national wheat target of 416 thousand tonnes this season.

ZBCNewsOnline

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