Local financial institutions have been implored to assist indigenous tobacco players to access the US$50 million export facility set aside by the Reserve Bank of Zimbabwe to boost production of forex generating crops.
The export facility fund is now ready for disbursement to horticulture producers, tobacco players and other viable foreign currency generating products.
The central bank Governor Dr John Mangudya dangled the gold leaf fund on local financial institutions to assist tobacco players to join the horticulture sector which has already started accessing the US$50 million export fund facility which is readily available at the apex bank.
The RBZ will continue to prioritise and promote all foreign currency generating sectors to ensure they become viable and productive to sustain forex requirements and the country’s medium of exchange.
Tobacco has raked in over US$520 million this season and if adequate support is availed to farmers, tobacco experts have hinted that the production of the golden leaf can transform itself into a one and half billion dollar sector, come next year.