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Home » Tanganda wary of forex retention cuts
Companies & Markets

Tanganda wary of forex retention cuts

written by Elton Manguwo, Staff Writer 0 comments
Export volumes for the quarter under review declined by 11 percent to 1 134 tonnes from 1 274 tonnes achieved in the same comparative period last year reflecting the impact of the late onset of rains which affected bulk tea production which fell 26 percent.
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THE Reserve Bank of Zimbabwe (RBZ)’s downward review of foreign currency retention thresholds for exporters by five percentage points could compromise the viability of exporting companies, agro-industrial concern, Tanganda Tea Company (Tanganda) has warned.The RBZ governor John Mushayavanhu in his monetary policy statement presented a fortnight ago slashed exporters’ foreign currency retention levels to 70…

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