Online Reporter
Nyore Madzianike
Senior Reporter
THE cotton marketing season is set to open next week, with the Cotton Company of Zimbabwe saying preparations are at an advanced stage to receive farmers and engagements with banks to source funding are progressing well.
Appearing before the Parliamentary Committee on Lands, Agriculture, Fisheries, Water and Rural Development, Cottco managing director Mr Munyaradzi Chikasha said the national cotton marketing season will begin on May 11, 2026.
Mr Chikasha was presenting oral evidence on the funding of Cottco for the purchase of cotton for the current marketing season and the payment of farmers’ arrears from previous seasons.
Mutapa Fund Investment, now a major shareholder in Cottco, also appeared before the same committee.
“Marketing season for cotton is expected to start on May 11, 2026. So, what we require normally is to have all the requirements, like woolpacks, in time for the marketing season,” he said.
“So, because of the challenges that we have financially, we couldn’t manage to secure woolpacks in time. But, we have made provisions for alternative packaging material that we are going to use for the coming season, which is going to start on Monday, the 11th of May.
“So, that’s where we stand at the moment.”
Responding to questions from the committee on whether the company has adequate funds to pay farmers and settle outstanding arrears, Mr Chikasha said negotiations with banks were progressing well.
He said the company had received positive feedback from some financial institutions.
“In terms of farmer payments, we have made arrangements with banks. As we were coming here (to New Parliament), we actually got a call from one of our bankers for a term sheet, which shows that we have progressed quite well in terms of securing funding for farmer payments,” he said.
“And also, we have also made some arrangements with our customers for pre-finance to enable us to be in a position to pay farmers.
“However, I must state that we haven’t gotten to a stage where we can say we are now drawing down on those facilities so we can pay farmers.”
