ZMX and GMB Launch National Warehouse Receipt System to Empower Zimbabwean Farmers

GMB and ZMX Logos

Reporter

The Zimbabwe Mercantile Exchange (ZMX) and the Grain Marketing Board (GMB) have announced a strategic partnership aimed at enhancing agricultural market efficiency through the introduction of a national Warehouse Receipt System (WRS). This initiative is designed to improve farmers' access to financial services, particularly for self-financed farmers and producers not participating in the Presidential Input Programme (PIP) or the Agricultural and Rural Development Authority (ARDA) scheme.

Certified Warehouses and Accessibility

GMB is providing 10 certified warehouses across Zimbabwe, strategically located in Aspindale, Concession, Banket, Chegutu, Gweru, Bulawayo, Norton, Lion’s Den, Magunje, and Murehwa. This collaboration allows farmers to store their produce securely and access financial services using warehouse receipts as collateral.

Mr. Collen Tapfumaneyi, ZMX CEO, and Dr. Edson Badarai, GMB CEO, both emphasised the importance of this initiative.

“This platform empowers farmers by providing options to sell immediately, access credit, or procure inputs using grain receipts as collateral,” they stated.

How the Warehouse Receipt System Works

Under the WRS, farmers who deliver their grain to certified warehouses will receive a warehouse receipt. This document functions as both a security and a financial instrument. With it, farmers can choose to:

Sell their grain immediately through the ZMX auction;

Use the receipt as collateral to access credit facilities;

Or purchase agricultural inputs such as seeds, fertilizers, and agrochemicals.

To participate, farmers must open a free ZMX account via USSD, mobile app, or online platform. After booking a delivery to one of the certified warehouses, they will receive their warehouse receipt upon grading and weighing.

Stabilising Markets and Supporting Food Security

Officials believe that this innovative system will help stabilise grain supply chains, promote price transparency, and contribute significantly to national food security by offering market-driven incentives and financial inclusion for smallholder and independent farmers.