GMB instructs farmers to have foreign currency accounts

The Grain Marketing Board (GMB) has announced a 30 percent United States dollar component for amounts due on delivery of maize and traditional grains.

A statement released this afternoon by the GMB Chief Executive Officer Rockie Mutenha urged farmers to open or activate their nostro accounts in order to receive the USD payments.

Seventy percent of the payment will be in Zimbabwe dollars, the statement said.

“Farmers are therefore urged to urgently open USD Nostro Accounts with their respective banks. The GMB is encouraging farmers to update their Nostro Banking details with our Supply Chain Managers at all our depots throughout the country for timeous payments,” noted Mr Mutenha.

For those with GMB Farmer Cards, the nostro accounts will be automatically generated in the company’s system, he said.

“We are encouraging farmers to take advantage of this development and start delivering their Maize and Traditional Grains to GMB.

“For any clarification, the public can contact the GMB Corporate Communications Department through the hotline telephone line 024 (2) 701898 or email at publicrelations@gmkdura.co.zw.”