The Agriculture Finance Corporation Holdings is set to raise $3 billion through agro bills to fund the 2021/22 summer cropping season.

The institution has invited corporates and individuals to subscribe to the bills.

In a notice, the AFC holdings said applications must be for a minimum of $1 million.

“Individuals not resident in Zimbabwe must apply for exchange control approval, through a bank registered in Zimbabwe. Direct applications for non-residents will not be accepted,” said the AFC.

During the 2020/21 season, Government availed $500 million to AFC Holdings through the Reserve Bank of Zimbabwe to finance wheat production.

The mandate of the AFC Holdings Group is to support the Government thrust for agriculture production, productivity and Food Systems Transformation towards the attainment of national food security and the President’s Vision 2030: Towards a prosperous and empowered Middle Income Status by 2030.

Government revived the AFC to support the overall transformation process for accelerated development of the country and to ensure the 21 000 A2 farmers and 360 000 A1 farmers can access loans at a viable cost.