By Karen Whitney Maturure
Introduction: The challenge of financing development
It is evident that global development finance has been on a downward trajectory. According to preliminary data published by the Organisation for Economic Co-operation and Development (OECD) in April 2026, official development assistance (ODA) from Development Assistance Committee (DAC) members fell by 23.1% in 2025 to US$174.3 billion, the largest annual contraction on record. At the same time, governments continue to face competing fiscal pressures. This presents an urgent challenge for financing inclusive and sustainable development.
Financing inclusive and sustainable development is an urgent challenge for developing economies. As governments face competing fiscal demands and international development assistance comes under pressure, Zimbabwe must find ways to mobilise resources effectively and ensure they generate lasting economic and social benefits. SDG 17 emphasises the importance of financing and partnerships, while the African Development Bank’s 2026 Country Focus Report on Zimbabwe highlights domestic resource mobilisation and stronger financial markets as priorities for inclusive growth.
Public-private partnerships have featured in Zimbabwean development scholarship and policy commentary. In Public–Private Partnership for Sustainable Cities: The Case of Harare City, Maturure (2017) examined their potential to support urban regeneration. A 2018 Techzim article by Maturure also explored their role in financing African development and transformation. These discussions raise a broader question: how can partnerships between governments, development institutions and private-sector actors mobilise resources for productive sectors such as agriculture?
Agriculture provides a practical context for examining this question because its development depends on an interconnected value chain of farmers, input suppliers, processors, transporters, retailers and financial institutions. Each actor requires investment to operate effectively. Smallholder farmers may need irrigation equipment and working capital, while young entrepreneurs and women-led agricultural businesses may require funding for poultry production, processing or storage. Meeting these needs requires more than capital alone; it also demands business support, infrastructure, technology and reliable market access.
Addressing these barriers requires a combination of public resources, international development finance and private investment. Governments can invest in essential infrastructure, while development partners can provide technical assistance, credit guarantees and other instruments that encourage lending to underserved enterprises.
This approach also reflects a broader shift in development financing towards models that seek to mobilise private capital, share investment risks and sustain results beyond the lifespan of individual projects. While grants remain essential for vulnerable communities and activities that may not generate financial returns, development partners are increasingly exploring blended finance, public-private partnerships and other mechanisms that can attract additional investment and strengthen local financial markets. Well-designed partnerships can help establish viable enterprises, stronger financial systems and market relationships that continue beyond a project’s funding period. However, their sustainability depends on effective governance, appropriate risk-sharing and ensuring that the needs of underserved communities remain central.
The work of the Zimbabwe Agricultural Development Trust (ZADT) provides an illustrative example. Through its work, ZADT combines business development support and financial literacy with linkages to banks and microfinance institutions, helping women and young entrepreneurs strengthen their businesses and pursue financing opportunities. This illustrates how development organisations can connect underserved agricultural enterprises with existing financial institutions.
Domestic banks and microfinance institutions remain central to sustainable agricultural finance, although seasonal incomes, limited collateral and climate risks can discourage lending. Financing models must reflect agricultural production cycles and support appropriate risk assessment. Meanwhile, investment in irrigation, water harvesting, storage and climate-resilient technologies can protect productive assets and strengthen farmers’ ability to withstand shocks.
Inclusive growth must also be measured beyond the number of beneficiaries trained or funds disbursed. Productivity, profitability, employment, market access and resilience provide stronger indicators of lasting impact. Assessment should also establish whether women and young people gain meaningful access to capital and productive opportunities.
For Zimbabwe, the priority is to coordinate public investment, development partnerships and domestic finance while connecting funding to business development and market access. Ultimately, development finance should do more than fund activities: it should build viable enterprises, strengthen rural livelihoods and create sustainable economic opportunities. The challenge is to transform constrained resources into lasting, inclusive growth.
About the writer
Karen Whitney Maturure is a development practitioner with over 10 years of experience in the development sector, specialising in development communications, gender and inclusive economic empowerment. She holds a Master’s degree in International Relations and an Honours degree in Development Studies. Her professional interests focus on inclusive development finance, strategic partnerships and how these can expand economic opportunities for women, young people and underserved communities.
