Zimbabwe’s tobacco farmers to get half their earnings in dollarsChristian Fernsby ▼ | March 15, 2020
The Reserve Bank of Zimbabwe (RBZ) has said it will pay tobacco farmers half their earnings in U.S. dollars.
Zimbabwe Zimbabwe tobacco farmers
Topics: Zimbabwe tobacco farm
Tobacco is one of Zimbabwe’s top export earners and last year brought in more than $500m in earnings last year. There were fears farmers would withhold their crop if they did not receive payments in $ ahead of the tobacco selling season set to start this month.
Zimbabwe is the largest grower of tobacco in Africa and has some of the best climatic conditions to grow the crop in the world, despite the persistent climate change induced droughts Southern Africa is facing.
This year, the RBZ says farmers are free to keep money in their foreign currency accounts as well as conduct foreign transfers without limits. ■