GMB to pay farmers partly in forex

Vusumuzi Dube, Online News Editor

THE Grain Marketing Board (GMB) has announced that it will now be paying farmers partly in foreign currency for maize and traditional grain deliveries.

This move is meant to encourage farmers in the country to take advantage of the development and start delivering maize and traditional grain to the board.

In a statement GMB CEO Mr Rockie Mutenha said they will be paying farmers 30 percent of the amount due on maize and the traditional grains in United States Dollars.

“The Grain Marketing Board (GMB) advises the nation that it is paying farmers 30 perent of the amount due on Maize and Traditional Grains delivered in United States Dollars (USD) and 70 percent in Zimbabwe Dollars (ZWL).

“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. For those with GMB Farmer Cards, the nostro accounts will be automatically generated in our system,” reads the statement.