By Jonathan Mbiriyamveka
Zimbabwe’s agricultural sector is receiving a significant boost as the People’s Own Savings Bank (POSB) channels US$26.4 million into agriculture financing for the 2025/26 season, with a government-backed Belarus mechanisation programme at the heart of the initiative.
The bank’s agriculture financing package is inclusive of the government-backed Belarus mechanisation programme for tractors and other equipment, for which POSB is acting as a financing agent and facilitator.
“The total value of agriculture-related financing being channelled through POSB for the 2025–2026 season is US$26,421,865,” POSB chief executive officer Garainashe Changunda told businessdigest.
“This is inclusive of the government-backed Belarus mechanisation programme for tractors and other equipment, for which POSB is acting as a financing agent and facilitator.”
POSB is targeting all categories of farmers and agribusinesses under this initiative through three complementary facilities.
“Through our POSB Agribusiness Loan Facility, we are supporting both individual clients, including communal (smallholder) farmers, small-scale commercial farmers and specialised producers such as horticulture farmers, and corporate clients, which cover medium-scale and large-scale commercial farmers, agribusiness companies, and out-grower schemes,” Mr Changunda said.
The bank is also rolling out the Belarus Mechanisation Facility to individual farmers, agribusinesses, cooperatives, and irrigation schemes so that farmers across the spectrum can access subsidised Belarus tractors and other farming equipment to speed up mechanisation.
In another significant development, POSB is among several banks selected to implement the Title Deeds Mortgage Loan Scheme for Land Reform Programme beneficiaries.
“We are one of the banks selected to implement the Title Deeds Mortgage Loan Scheme for Land Reform Programme beneficiaries, including A1 Temporary Permit and A2 Settlement holders, to help convert their tenure documents into bankable title deeds and strengthen their collateral base for future financing,” Mr Changunda said.
As at 19 July 2026, the Bank had received cash payments amounting to US$3,255,248 for the processing of title deeds. The government plans to issue title deeds to approximately 384,000 resettled farmers by 30 June 2026.
The Memorandum of Understanding between POSB and the Ministry of Finance for the Belarus Mechanisation Programme remains valid and in force.
The facility in the sum of US$22.5 million is still available to support farmers increase productivity in the agricultural sector.
The terms of the loans offered vary with the type of loan and client situations. For example, individual agribusiness loans can take up to 24 months, while title deed mortgages can take up to 20 years.
The financing drive follows a report by Finance, Economic Development and Investment Promotion minister Mthuli Ncube in October, which indicated that the agricultural sector grew 73.9% to become a US$10.3 billion industry in 2025, largely due to improved rainfall.
This positive trajectory is expected to continue into the 2025/26 season.
POSB’s agriculture financing is part of the bank’s broader strategy to support productive sectors of the economy, including mining, manufacturing, tourism, and renewable energy, to stimulate industrialisation, value addition, and sustainable economic growth.
As Zimbabwe moves towards its Vision 2030 of attaining an Upper Middle-Income Economy, POSB’s role in financing agricultural transformation cannot be overstated. B
y providing access to mechanisation and title deeds, the bank is helping to unlock the full potential of Zimbabwe’s agricultural sector, supporting food security, export earnings, and rural livelihoods.
The Belarus tractors programme, in particular, addresses one of the key constraints facing Zimbabwean farmers – access to affordable mechanisation.
As Mr Changunda noted, the bank is targeting “farmers across the spectrum,” ensuring that even smallholder farmers can benefit from the programme.
With the agricultural sector already showing strong growth, POSB’s continued support will be critical in sustaining this momentum and ensuring that Zimbabwe’s farmers have the tools they need to succeed.
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