Chiredzi – The Central Africa Building Society (CABS) has entered into a private partnership with Glenwood Investments, a subsidiary of India International Sonalika Tractors, in a deal meant to enable the Zimbabwe Sugar Development Association (ZSDA) to obtain funds from CABS to purchase tractors, TellZim News has learnt.
Addressing hundreds of farmers gathered at Duma city recently, Glenwood manager, Israel Chemai said the company requested CABS to avail funds for sugarcane farmers so that they could lease and purchase Sonalika tractors.
"Through lease finances, we have approached CABS so that the bank will assist the farmers with funds to acquire Sonalika tractors that cost only US$29 450, which is way cheaper than the market average price given that the tractor will do everything from reaping to disking," said Chemai.
Chemai urged Sugarcane farmers to pull their funds together and purchase the tractors in groups and not to simply wait for funds from CABS if they are to have their tractors in time.
Edmore Veterai, who is the chairman of ZSDA said that most, if not all farmers in the association have welcomed the Sonalika tractors deal and saying tractors will make work easier for all farmers.
"As farmers, we are excited that we will have an opportunity to increase yields with minimal hard labour. A tractor makes the life of a sugarcane farmer easier through carrying out such tasks as ploughing, reaping, ridging, planting and it can also pull 25 tonnes without any hassles," said Veterai
Meanwhile, Veterai has indicated that ZSDA is working with a local university and another one in India to equip farmers with certificates, diplomas and degrees in sugar production, processing, marketing and management business.agriculture