The emergence of medium-scale farms is having important consequences for agricultural commercialisation across Africa. This article examines the role of medium-scale A2 farms allocated following Zimbabwe’s land reform after 2000. While the existing literature focuses on changing farm size distributions, this article investigates processes of social differentiation across medium-scale farms, based on qualitative-quantitative studies in two contrasting sites (Mvurwi and Masvingo-Gutu). Diverse processes of accumulation are identified across commercial, aspiring and struggling farmers, and linked to contrasting patterns of agricultural production and sale, asset ownership, employment and finance. The ability to mobilise finance, influenced by the state of the macro-economy, as well as forms of political patronage, is identified as a crucial driver. Contrary to assertions that A2 farms are largely occupied by ‘cronies’ and that they are unproductive and under-utilised, a more differentiated picture emerges, with important implications for policy and the wider politics of Zimbabwe’s countryside following land reform.