Sundaymail Editor
Online Reporter
Stanbic Bank Zimbabwe says it is ready to support local tobacco farmers with the necessary financial solutions.
“We understand the importance of agriculture to the country’s economy and we are committed to supporting the sector in every way possible,” said the lender’s head of agribusiness, Mr Tawanda Maposah.
“Our crop financing and payment solutions are designed to meet the unique needs of farmers.”
Stanbic Bank, he added, was well-resourced to meet farmers’ cash needs.
The bank’s head of consumer and high net-worth clients, Mr Nelson Muhau, said they have made sure that their branches always have sufficient cash to meet demand from farmers.
“We have also established partnerships with various agro-dealers to provide farmers with easy access to inputs such as fertilisers and pesticides,” said Mr Muhau. This year’s tobacco crop is expected to be between 230 million kg and 240 million kg, up from 212 million kg last year.
Demand for locally produced tobacco is expected to be high, as output in Brazil, a major producer, had dropped from 900 million kg to 500 million kg.
Zimbabwe’s tobacco selling season opens on March 8.
Online Reporter