27 June 2016
   
Emotional Mphoko speaks on hotel stay
Dabengwa, Mzila at SA Gukurahundi show
Unwell Tsvangirai off to South Africa again
My Bob must go call was ignored: Mavhaire
Vendor up for threatening to burn hotel
2008 violence victims qualify for help: Min
Five scribes nabbed at anti-Mphoko demo
Minister says Scotland could veto Brexit
MORE NEWS
TelOne revenues down, urged to diversify
Min: Cargo stolen passing through Zim
MORE BUSINESS
Zim Dancehall: Why Wicknell, not Dzamara?
Mukanya plans to perform in Zim soon but…
MORE SHOWBIZ
Caps keep title hopes alive, beat Byo City
Bosso dismiss ZPC Kariba to keep top spot
MORE SPORTS
Ncube: How we lost our cash reserves
‘Mandlovu’ Mujuru seeking political capital
MORE OPINION
 
Stop conventional medicine attacks
Brexit: Should Zimbabwe worry?
MORE COLUMNISTS
 
 
Bank provides $65mln for tobacco production
01/03/2012 00:00:00
by bloomberg.com
 
Credit line ... MBCA bank backs tobacco farming
 
RELATED STORIES
Tobacco exports to China top US$40m
New growers join tobacco sector
Tobacco marketing to be decentralised
Tobacco sales to surpass target, TIMB
Tobacco prices up 39 percent
Tobacco sales generate US$408m
Tobacco output up, but shy of target
Tobacco output to increase 15 percent

MBCA Bank, a unit of South Africa’s Nedbank Group, will lend $65 million to Zimbabwean tobacco farmers this year, spokeswoman Dedrey Mutimutema said.

“These lines of credit have been structured in such a manner that they will fund the entire value chain in the production of green-leaf tobacco,” Mutimutema said in an e- mailed statement from Harare.

“The funds will cover input financing, grower financing, processing, export logistics as well as export debtors.”

The funds will come from Nedbank and Egypt-based Africa Export Import Bank, she said.

Tobacco is planted between September and November in Zimbabwe.

The country may sell 150 million kilograms of the crop this year, according to the Tobacco Industry and Marketing Board.

While output of the leaves is recovering, it’s still below peak levels of about 236 million kilograms achieved in 2000. Zimbabwe mostly produces flue-cured Virginia tobacco.

The crop was Zimbabwe’s biggest export earner before 2000, when President Robert Mugabe’s Zanu PF party began seizing white-owned commercial farms leading to a collapse in output.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark
 
 
 
comments powered by Disqus
 
Car shipping to Namibia, Zimbabwe, Botswana, Mozambique, South Africa and Zambia from UK
RSS NewsTicker