Financial & Commodities Ecosystem (FinComEco) - Agriculture March 21, 2018
In progress
Mar 2018

Govt signs MoU with FinComEco to deliver FinTech enabled Economic and Social reform in Agriculture 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.