RBZ, Tobacco Farmers Meet Ahead Of Marketing Season

3 years agoSat, 29 Feb 2020 02:59:46 GMT
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RBZ, Tobacco Farmers Meet Ahead Of Marketing Season

The Reserve Bank of Zimbabwe (RBZ) met farmer organisations and stakeholders in the tobacco industry to iron out their differences ahead of the marketing season.

Farmers had expressed concern over the challenges they faced in accessing the foreign currency component after selling their tobacco last year. Speaking after the meeting on Friday, RBZ Governor John Mangudya said:

We had a very positive meeting with representatives of the tobacco industry, including growers. We want to ensure that tobacco producers are paid timeously. We also agreed on the format and substance of the communication with the tobacco industry; it’s coming out next week.

Zimbabwe Tobacco Association (ZTA) chairman Rodney Ambrose confirmed the meeting with Central Bank officials, saying he will only be able to comment after the RBZ has released a statement.

Farmers want, among other things, the RBZ to simplify access to the US dollar component of their proceeds, including a portion to be withdrawn in cash.

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More: The Herald



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