"33% of farmers have fully paid Command Agriculture loans"

Finance Minister Patrick Chinamasa revealed that Government has recovered $47,7 million out of  $72 million, while 10 000 farmers are yet to deliver their maize to the Grain Marketing Board. He said that only 33% of the 50 000 farmers that received Command Agriculture loans, have fully serviced their loans.

Said Chinamasa:

In this regard, Command Agriculture Revolving Fund registering repayment receipts of $47,7 million in loan recoveries from farmers. This is against the anticipated target of $72 million. Out of the 50 000 farmers contracted to produce maize under Command Agriculture, 33 percent fully paid their loan obligations, with 22 percent having partially paid their obligations, while recoveries from others are being made as they deliver to the GMB. However, as at November 23 2017, about 10 053 contracted farmers had not made any maize deliveries to GMB, an indication that these were already defaulting on their 2017 debt obligations.

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