Govt disburses funds for cotton farmers

By John Nhandara

GOVERNMENT has cleared cotton payment arrears for the 2021 marketing season following the disbursement of ZWL750 million by treasury.

The disbursement of the funds means Government has cleared the ZWL2.5 billion that was owed to farmers for the 2021 cropping season.

Cotton company of Zimbabwe managing Director Mr Pius Mananike confirmed the development.

We have received money from treasury to the tune of ZWL750 million for onward disbursement to our cotton farmers, he said.

Government made a commitment to settle outstanding cotton payment arrears after COTTCO had challenges meeting the financial obligations.

Meanwhile, The Agricultural Marketing Authority, recently indicated that there will be a dual payment system for cotton farmers for the 2022 marketing season, which will see them receive payment of their crop in United States and Zimbabwe Dollars.