Tobacco Farmers To Get 50% In US Dollars

Tobacco Association of Zimbabwe president Mr George Seremwe told Sunday Mail that the central bank has since said tobacco farmers will get to keep 50% of their earnings.

This comes after the Reserve Bank of Zimbabwe last Tuesday reneged on a promise to pay tobacco farmers 50% of their sale proceeds in foreign currency. As a result farmers were reluctant to sale their produce. Said Seremwe:

Basically prices had been our biggest problem, they were disappointingly low. Also payment modalities were not clear to farmers and buyers were not participating for reasons known to themselves. But I’m told the merchants issues was resolved. Also the Reserve Bank of Zimbabwe has since said farmers will get half their income in United States Dollars and the other part in RTGS$.

More: Sunday Mail