Zimbabwe to Seek Z$60 Billion in Private Funding to Buy Grain

Zimbabwe’s government hopes to secure 60 billion Zimbabwean dollars ($709 million) from the private sector to buy some of the country’s bumper corn harvest this year, Finance Minister Mthuli Ncube said.

“We have set up various structures: a Grain Purchase Committee and a Grain Payment Committee that include various producer associations to work on strategies to ensure that resources are in place to pay the farmers,” Ncube said in parliament in response to questions on whether the Treasury has the finances to buy an estimated 2.8 million tons of corn from producers. He didn’t give any details on the plans for securing private funding.