Mangudya Tells Tobacco Farmers To Open Accounts, Says I Am Releasing $450 000 Daily For Farmers
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has told tobacco farmers to open bank accounts if they want to access cash. Responding to complaints that the farmers are failing to access cash, Mangudya said that he was releasing $450 000 every day for the farmers and emphasised that they should open bank accounts in order to access the cash.
Said Mangudya,
I have a number of resident central bank members at the auction floors whose sole job is to ensure farmers can access their money from that side. We provide cash enough for an average of 1 500 farmers, $300 daily to ensure that tobacco farmers can access their money from the banks.
As far as I’m concerned the central bank and banks are doing splendid job at the floors as far as ensuring that farmers are accessing their money. The problem is that some farmers have no bank accounts, we encourage them to open bank accounts to ensure they get their money. It is not surprising to see that those who are making a lot of noise are those ones who do not have bank accounts
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