HARARE (FinX) – Innscor Africa Limited’s agriculture unit, PHI/Agrowth, invested a total of US$10.4 million in the current summer cropping season as part of its objectives to ensure a continuous supply of raw materials to group units while also contributing to national food security.
As the largest buyer of local maize, soya products, and wheat in Zimbabwe, the group
encompasses National Foods’ Flour and Maize Milling Divisions, Stock Feeds Division,
Profeeds, Probrands, Irvine’s, The Buffalo Brewing Company, and Colcom, leveraging a
substantial volume of locally produced sorghum, sugar beans, and popcorn.
According to a Director of PHI Graeme Murdoch, the unit put 6,786 hectares under key
crops, under contract with 199 farmers. This investment not only strengthens the supply
chain for various food products but also enhances the livelihoods of local farmers and
promotes sustainable agricultural practices.
Maize received the bulk of the funds at US$8 million with 4,804ha under commercial
irrigation, 130ha on commercial dryland and 132ha dryland small scale.
The unit invested US$1.66 million into soya beans with a total of 1,231ha under crop.
Sorghum and popcorn took up the remainder.
Murdoch emphasized the critical nature of the investment, stating, “Our commitment to
investing in local agriculture is fundamental to achieving both our business objectives and
supporting food security in Zimbabwe. By working closely with our farmers through
initiatives such as contract farming, we help ensure stable production levels and provide
them with the necessary tools and resources to succeed.”
After last year’s drought, group companies have been reliant on imports for their maize
and soya requirements for most of 2024. PHI purchased approximately 40,000 tonnes of
maize and about 7,000 tonnes of soya beans from the 2023/24 summer crop, alongside
53,000 tonnes of contracted wheat from the 2024 wheat crop.
Looking to the future, the unit targets 6,400 hectares of winter wheat this year.
Murdoch noted, “The 2024/25 summer rains were much later than expected, with the first
planting rains falling, for most areas, only in the middle of December. The rain in the
Northern Areas has been adequate for the crops, but run-off to fill the dams is still
insufficient to guarantee a winter crop.”
The Agrowth Scheme, which supports agriculture through contract farming initiatives,
facilitates better yield outputs while fostering a cooperative environment among farmers.
The initiative not only assists farmers in accessing finance and essential farming inputs
but also guarantees reliable marketing channels for their produce.
Looking ahead, PHI plans to continue expanding its agricultural footprint and increasing
investments in crop production to meet the rising demand for locally sourced food
products. Murdoch added, “As we move towards the next planting season, we are
focusing on diversifying our crop base and enhancing our partnerships with farmers to
cultivate a broader range of crops.”
To further bolster its efforts, PHI is actively seeking to enhance its collaboration with
independent contractors to secure consistent off-take options for commodities, thereby
solidifying Zimbabwe’s agricultural sector and ensuring a stable supply of raw materials
for its diverse food production divisions.
Overall, Innscor Africa’s strategic approach not only prioritizes its operational needs but
also plays a vital role in uplifting the agricultural sector and contributing to the broader
economic landscape of Zimbabwe.
