The Tobacco Industry and Marketing Board (TIMB) has called on farmers to open bank accounts with financial institutions in their respective areas.
The call comes in the wake of thousands of farmers who are congesting banks at auction floors to withdraw their proceeds from tobacco sales.
If the farmers take heed of the advise to open accounts in their respective vicinities, this will go a long way in decongesting the auction floors as farmers will withdraw their cash in rural areas says TIMB spokesperson Sheunesu Moyo.
Some of the farmers told ZBC News that although the banks are paying cash in line with the central bank’s directive, they are being overwhelmed by the ballooning turnout by growers delivering their golden leaf.
On the onset of tobacco marketing season, the Reserve Bank of Zimbabwe and TIMB issued a joint statement to the effect that tobacco farmers can access US$1 000 after every sale and a maximum of US$500 on daily basis but growers are spending days queuing to withdraw all their money claiming there are no banks of their choice in the rural areas.