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Monday, July 15, 2024

US$5 billion tobacco industry achievable-TIMB

Story by Stanley James, Business Editor

THE Tobacco Industry and Marketing Board (TIMB) has unveiled a US$5 billion 2025 industry target roadmap by capacitating smallholder farmers, mobilising capital, and value addition.

In an interview with the ZBC News, TIMB chairperson, Mr. Pat Davenish revealed that the US$5 billion industry by 2025 target is achievable as revealed by Cabinet last Tuesday.

He however highlighted that there are specific interventions that are needed.

“Such a target is noble. However, there are certain aspects that need to be attended to if such a target can become a reality so as the regulator, we are working with stakeholders be it government, private sector regional and global partners,” he said.

Mr. Davenish also gave an update on the 2023- 2024 summer cropping season for the golden leaf.

He said, “We are aware of the El Nino induced drought that might have a negative effect on overall quality and production volumes so there is that need to mobilise all the relevant resources while also focusing on sustainable yields.”

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