Cottco assures of resuming payments

Rutendo Gomwe Herald Correspondent

The Cotton Company of Zimbabwe (Cottco) has assured farmers that payments for seed cotton delivered to depots and common buying points is set to resume after engagement of relevant authorities.

Presently a total of 44 550 tonnes of seed cotton was delivered and hopes are high that the full intake for the current season will double last year’s output which stood at 46 000 tonnes.

In a statement, Cottco Chairman Sifelani Jabangwe urged farmers to shun side marketing and assured them that modalities were now in place to pay on time.

“Payments were delayed because of the country’s current liquidity situation, payment modalities are still being refined in partnership with other stakeholders to ensure maximum convenience to farmers.

“Cottco is grateful for the support of the Presidential Input Scheme, commitment by the farmers and other stakeholders, and remains committed to ensuring the growth and sustenance of the cotton sector,” he said.

Cotton Producers and Marketers Association chairman Mr Steward Mubonderi confirmed that Cottco had already resumed the payments.

“We are pleased that the money is now flowing in, and we want to reassure the farmers that there won’t be any more difficulties in the future. Payment modalities have also been improved, allowing farmers with smaller volumes to be paid in cash.

“Cottco has encountered difficulties in trying to raise money to pay farmers who cultivated cotton under the President’s input program. As farmers, we had a conversation with Cottco management about the payment modalities that needed attention and improvement so that farmers were paid their money close to their selling points. We are delighted to notice that money is starting to trickle in and farmers will start being paid very soon.

“We had an opportunity to discuss on how Grain Marketing Board (GMB) farmers are being paid, the model proved to be a success at GMB and we strongly believe that model must be transferred and be implemented by Cottco as well, all other payment platforms which were discussed are free to come under the GMB platform system working together in collaboration with farmers so that farmers are paid promptly on time”, he said.