Grain producers have to date received a total of US$37 million and ZiG329 million in payments from the Grain Marketing Board (GMB), following the latest funding allocations from the Treasury.

The total comes as the GMB received an additional US$5 million from the Treasury on August 13, following a release of US$5 million and ZiG40 million the previous day.

GMB Chief Executive Officer Dr Edson Badarai said the total cumulative payout is expected to bolster financial capacity within the agricultural sector, enabling farmers to reinvest directly into their agribusiness operations.

“This funding by the government brings positive impact on the agricultural sector, as farmers will be able to invest in their agribusiness, a key sector driving Zimbabwe’s economy,” he said in an update.

He credited the Minister of Agriculture, Mechanisation and Water Resources Development, Dr Anxious Masuka, for securing the necessary Treasury allocations to maintain steady farmer payouts.

The state grain buyer reiterated its focus on delivering the total funds to ensure national grain self-sufficiency.