Government sets sights on US$13,7bln agriculture economy

Elton Manguwo
Staff Writer

ZIMBABWE’S agricultural sector is on a transformative path, with the government aiming to grow the industry into a $13,7 billion economy by 2025.
Buoyed by strategic investments, partnerships, and technological innovation, the sector is expected to drive food security, job creation, and economic growth.
At the recent launch of the 2024-25 summer farming season, held at the Zimbabwe Agricultural Society (ZAS) Business Hub in Harare, stakeholders gathered to align their efforts toward this ambitious goal.
The event, themed “Growing Zimbabwe Together,” was made possible through the sponsorship of leading Pan-African financial institution Ecobank Zimbabwe, reflecting the bank’s commitment to national development and sustainable agriculture.

Minister of Agriculture Anxious Masuka

Agriculture minister Anxious Masuka highlighted the importance of a coordinated approach to achieve agricultural targets.
The government has allocated US$1,6 billion to the summer farming budget, financed through public and private partnerships. This funding focuses on key food and feed crops to boost production, reduce imports, and open new opportunities for exports.
“The summer budget is designed to bolster production, setting the tone for import substitution and opportunities for export growth,” said Masuka.
He emphasised that agriculture already contributes between 10 percent and 14 percent of Zimbabwe’s GDP and is poised to play an even larger role in rural development and employment creation.
Ecobank Zimbabwe, the principal sponsor of the farming season launch, played a central role in setting the collaborative tone of the event.
Managing director Moses Kurenjekwa underscored the bank’s dedication to promoting food security and sustainable development.
“As a Pan-African bank, we are committed to propelling the African agenda. Our sponsorship of this crucial farming season launch is our contribution to ensuring national food security for everyone,” said Kurenjekwa.
The Financial Gazette’s managing director, Lewis Chikurunhe, echoed this sentiment, commending Ecobank for its pivotal support.
“Ecobank Zimbabwe’s investment in this national cause will truly transform the country’s agricultural fortunes,” he said.
The government is focused on technological advancements and targeted investments to address challenges and harness opportunities within the sector.
Masuka noted that the AFSTS prioritises policies that facilitate investment, food security, resilience, and innovation.

“Agriculture’s increasing efficiency and technological advancement will reflect the sector’s capacity to adapt to changing market demands and global trends,” Masuka said.
He also highlighted plans to expand rural development initiatives, with US$70 million allocated for infrastructure, vocational training, and business unit establishment.
The season launch brought together key players such as the Grain Marketing Board, Zimbabwe Farmers Union, Zimbabwe Seed Traders Association, and the Fertiliser Manufacturers Association.
ZAS CEO Andrew Matibiri stressed the importance of collaboration, urging stakeholders to unite in addressing challenges and driving agricultural growth.
“With Ecobank on our side, preparations for the upcoming season are gaining momentum,” said Matibiri.
The emphasis on multi-sectoral partnerships aligns with the National Development Strategy (NDS1), which seeks to elevate the sector into a US$13,7 billion economy.
Agricultural economist Reneth Mano noted that focusing on key subsectors like crop production, livestock management, and agro-processing will generate significant trickle-down benefits, building resilience and sustainability in the sector.