By Ollus Ndomu
In a significant announcement, President Hakainde Hichilema of Zambia has unveiled an ambitious agricultural empowerment program aimed at supporting public service workers and the armed forces.
Through the Public Service Micro Finance Company (PSMFC), the government has substantially increased funding for loans, targeting the acquisition of farming inputs, livestock, and mechanization equipment.
A key highlight is the remarkably low interest rate of 9% per annum, making these loans accessible and affordable.
To ensure an immediate impact, an initial investment of K300 million has been injected into the PSMFC.
A noteworthy aspect is the inclusion of the armed forces, who can now access these empowerment funds for agricultural initiatives.
President Hichilema stressed the importance of wise utilization and urged beneficiaries to seek guidance when acquiring farming materials, ultimately aiming to boost agricultural production nationwide.
President Hichilema’s call to maximize the utilization of arable land and enhance year-round crop production reflects a commitment to revitalizing Zambia’s agricultural sector.
This comprehensive program signals a pivotal moment in Zambia’s pursuit of agricultural development and economic growth, with the potential to enhance food security and economic resilience for the nation.
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