GOVERNMENT has signed a $1,5 billion deal with the Financial and Commodities Ecosystem (FinComEco) to develop a range of platforms, projects and initiatives in the agricultural commodity markets sector in Zimbabwe expected to create at least 630 000 jobs.

The Memorandum of Understanding (MoU) signed between FinComEco and the Office of the President and Cabinet is expected to be extended into a Memorandum of Agreement (MoA) subject to approval under the new Joint Ventures Act which came into force in January.

If approved, the partnership will see FinComEco establish a joint venture company with the Ministry of Lands, Agriculture and Rural Resettlement to develop high impact initiatives to facilitate agricultural value chain efficiencies through provision of strategic value-added services, including an electronic Warehouse Receipt System, Exchanges, Trading Platforms, Commodities and Input Finance, among other initiatives. state media