Local funding for tobacco

The country’s tobacco sector has hit a historic peak, producing a record 354,9 million kilogrammes this year, earning growers more than US$1 billion.

THE government is shifting focus towards increasing locally-sourced financing for tobacco production, a development set to enhance retention and propel the restructuring and upgrading of the tobacco value chain.Latest statistics from the industry indicate that 95 percent of Zimbabwe’s tobacco production is financed through offshore loans with the country retaining 12,5 percent of the total…

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