Zimbabwe Congress of Trade Unions (ZCTU) president, Peter Mutasa, has bemoaned the payment methods adopted by the Reserve Bank of Zimbabwe (RBZ) for tobacco farmers.
The RBZ announced on Tuesday that farmers will receive payment for their tobacco in RTGS currency, rather than the 50% US dollars it had promised them initially.
Mutasa said that there will be no development in the country as long as it did not reward the producers;
There will be no development or economic progress in a country which does not reward those who produce (workers).
Farmers must be paid in USD coz tobacco is exported. Farmers paid for the inputs in USD and will lose if they are paid in RTGS.
Framers have been angered by the decision and have vowed to withhold their produce until they are paid in US dollars.
The Zimbabwe Congress of Trade Unions is the country's biggest worker representative with most of its members in different sectors of industry in Zimbabwe. It has special interests in labour activism and this has resulted in it being linked to opposition political parties particularly the... Read More About Zimbabwe Congress of Trade Unions
Peter Mutasa is a Zimbabwean trade unionist and the current president of the Zimbabwe Congress of Trade Unions (ZCTU). He is also the General Secretary of Zimbabwe Banks and Allied Workers Union Mutasa gained mainstream prominence in Zimbabwe after called for a nationwide stayaway from... Read More About Peter Mutasa
Real-time Gross Settlement (RTGS) is a fund transfer system where the transfer of money takes place from one bank to any other bank on a "real time" and on a gross basis. Settlement in "real time" means a payment transaction is not subjected to any... Read More About RTGS