Fertiliser firms to get revolving fund
Government through the National Social Security Authority (NSSA) is set to create a revolving fund for local fertiliser manufacturers, which will enable consistent supply of the key agriculture input. Public Service, Labour and Social Welfare Minister Prisca Mupfumira told The Herald Business that Government through NSSA would continue funding fertiliser companies.
“There are current efforts to create a revolving fund that will ensure consistent supply of the inputs going into the future.”
She said the Authority will this year avail funds for Sable Chemicals and Omnia for the production of Ammonium Nitrate. Reports say NSSA will avail $30 million to Sable Chemicals.
“We will be supporting agriculture through the facilitation of funds for the production of ammonium nitrate and this time we are supporting Sable Chemicals and Omnia. After successfully disbursing $20 million to fertiliser companies in 2016, this year we expect to inject a further $30 m. We believe that fertiliser is a key input in the agricultural process and is thus integral to increasing national agricultural output. We want to create a revolving fund for them so that the inputs are always available,” said Minister Mupfumira.
Sable Chemical resumed production last year after it started importing ammonia from South Africa following the decommissioning of its electrolysis plant.–herald
