The Zimbabwe Seed Association (ZAS) has revealed that 11 seed companies in the country are facing a financial crisis due to a debt of over US$60 million incurred by the government. The debt, which is related to seed supplied for the 2022/23 and 2023/24 agricultural seasons, has left these companies struggling to secure financial support from banks and investors.
The 11 seed producers are Arda, Easi Seeds, Farmbiz Genetics, Intaba Trading, Klein Karoo Seed Marketing, Prime Seeds/Seed Co Vegetables, Quton, Reapers, Seed Co, Tocek and Zimbabwe Technology Solutions. They all indicated that they are heavily borrowed and are failing to timely service the bank loans, NewsDay reported citing a ZSA memorandum dated December 18, 2023. Read the memo in part:
Some members have reported that they have defaulted on bank loans. Relationships with banks are now at their lowest level, seed companies cannot be trusted and hence are failing to access favourable credit facilities including the productive sector facility.
Those able to persuade banks for additional loan facilities are getting very high interest rates, which is very costly.
Companies have failed to access forex to timely import seed necessary to close supply gaps and this includes hybrid seed of sunflower and sorghums as well as parental seed which will help localised certified seed production.
In the past few days, we submitted a request of US$15 528 334,58 from six ZSA members and so far, got no response.
The situation has been worsened by the imminent drought caused by the El Niño spell. The debt issue comes at a time when the government is also struggling to pay farmers in US dollars for wheat delivered to the Grain Marketing Board (GMB) after a successful winter cropping season.
According to a memo, the companies have been unable to import necessary seeds due to a lack of foreign currency, leading to supply gaps. The financial distress is unsustainable and could result in the closure of seed companies, jeopardising Zimbabwe’s national seed security.
The financial strain has also affected the growers, with many not receiving full payment for the seeds they delivered. Some growers are demanding payment in US dollars, similar to other sectors such as maize and wheat. ZAS has urged the government to expedite payments and consider paying part of the debt in foreign currency. They have also called for supportive financial programs and tax breaks to help the seed sector recover from the crisis.
Earlier this year, Zimbabwean seed producers highlighted that they were facing challenges such as high interest rates and limited access to funding. The current financial crisis further exacerbates these issues and threatens the stability of the seed sector in the country.
Democracy and it's evils · 1 year ago
Only Tears 😭😭😭
1-The United States has confirmed that all countries in the world, in order to establish good relations with the great powers, must accept same-**** marriage (woman/woman or man/man). There are currently 34 countries where same-**** marriage is legal: Andorra, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Colombia, Costa Rica, Cuba, Denmark, Ecuador, Finland, France, Germany, Iceland, Ireland, Luxembourg, Malta, Mexico, the Netherlands, New Zealand, Norway, Portugal, Slovenia, South Africa, Spain, Sweden, Switzerland, Taiwan, the United Kingdom, the United States of America and Uruguay.
😭😭😭😭😭😭😭😭😭😭😭😭😭
2- Germany has just signed the law that declares that there is no more incest, that is to say: brother and sister can get married, mom and son, dad and daughter, etc. 😭😭😭😭😭😭😭😭😭😭😭😭😭😭
3-The city of Miami is now proclaimed the city of purchase of public ****. That means: on the way, to church,
at the mosque, at the market, at the football field, if you need **** you can enjoy it at any time without any problem.😭😭😭😭😭😭😭😭😭😭😭😭😭😭
4-Canada has allowed bestiality (**** with animals) 😭😭😭😭😭😭😭
5- In Spain: ****ographic films
are allowed in high school and universities. 😭😭😭😭😭😭😭
6- The authorization of the prostitution of minors is given. Marg Luker states that any young girl at the age of 10 who feels ****ual pleasure,
no one should defend her from
find out how his body works.😭😭😭😭😭😭😭😭😭😭😭😭
7- Finally the USA allowed the Satanic churches to be opened publicly.
Dear brothers and sisters, the end is near, the departure in Glory is approaching.
People are being distracted and the devil wants to drag the maximum number of souls with him in order to remove them from divine mercy. Let's be careful. 😭😭😭😭😭😭
If you have a minute...share this message. Why do we sleep in Churches, and stay awake in bars? Why is it so hard to talk about Jesus but so easy to gossip?
Why is it so easy to ignore messages from God but send back dirty messages?
Are you going to send this message to your friends or are you going to ignore it? If you love God, send this message to your true best friends in 60 sec. 🙏🙏🙏🙏
May God bless you. Amen!!!
: ****UAL IMMORALITY IS RAVAGING THE WORLD AT PRESENT.
God Said: There will come a time when mankind will love five things and forget five things.*
1. They will love the enjoyment of this world and forget the day of judgment.
2. They will love money and forget the day of accountability of how they acquired and spent the money.
3. They will fear things that are created and forget the creator.
4. They will love beautiful mansions and forget their graves.
5. They will love sins and forget to seek for God's forgiveness.
Come to think of this?.......
1. Eternal life = free
2. Church entrance = free
3. Christ's salvation = free
4. God's love = free
5. Breath of life = free
A. Cigarette = pay
B. Prostitution = pay
C. Alcohol =pay
D. Nightclub entrance fee = pay
E. Powers to rule the world = pay
Then why are people paying for hell while PARADISE is free?
Think twice
Believe in Christ and you shall be saved..
We always think of Valentine's day
Birth day
Father's day
Mother's day
Children's day
Farmer's day
Teacher's day
Christmas day
Independence day
Boxing day,
This day,
That day,
Day in Day out.
Have you ever thought of DEATH DAY and JUDGMENT DAY? Is it going to be a day of celebration or condemnation for you?
If you're safe, what about your friends & loved ones. Show them love by telling them about the *DEATH DAY and JUDGEMENT DAY.*
Please pass this to any group let heaven be happy for you today. Please don't say later, do it now because tomorrow may be too late.
Oh God, bless those who spread this message.
Thanks and God bless you.
king James · 1 year ago
amen amen
