Tag - Zimbabwe

Zimbabwe: RBZ to Disburse Us$60m Tobacco Facility

The Reserve Bank of Zimbabwe (RBZ) is working on modalities of disbursing a US$60 million tobacco facility this year after the Government decided to start funding production of the crop using local money. The Tobacco Production Localisation Revolving Fund is meant to support growers during the forthcoming season with a yield potential of 60 million...

R10m unlicensed raw tobacco from Zimbabwe found in East London warehouse

Officials discovered a stash of unprocessed tobacco worth R10 million at a warehouse in the town's Thorn Park, suspected to have come through the Beit Bridge border post from Zimbabwe. East London police made the bust in collaboration with customs officers. A 31-year-old male suspect was arrested for possession of unprocessed tobacco and bribery. Eastern Cape police...

RBZ (Reserve Bank of Zimbabwe) throws tobacco farmers into vicious debt trap

ABOUT 90% of Zimbabwe’s tobacco farmers have been thrown into a vicious debt trap that could be difficult to exit unless the government announces a payment model that addresses glaring shortcomings, the Zimbabwe Tobacco Association (ZTA) warned this week. Speaking ahead of the 2021 marketing season “unilaterally” set for April 7 by the Tobacco Industry...