Govt signs MoU with FinComEco to deliver FinTech enabled Economic and Social reform in Agriculture
www.fincomeco.com March 21, 2018
Govt and FinComEco have signed a MoU to jointly develop a range of platforms, projects and initiatives in the agricultural commodity markets sector in Zimbabwe. Based on estimates, the value-added by FinComEco to the agricultural sector in Zimbabwe will be in excess of US$1.5Bn over a 5 year period in terms of GDP growth. This is expected to create 90,000 direct jobs in the agricultural sector.
Milestones: - MOU expected to be extended into a Memorandum of Agreement (MoA) subject to approval under the new Joint Ventures Act which came into force in January 2018. - FinComEco with local partners and MLARR will then establish a JV company. - FinComEco is in the process of actively engaging with the three farmers unions. - Cabinet approved the deal in November 2018.