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Zimbabwe’s tobacco farmers plead for a better deal
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Under the new tobacco-selling regulations put in place since the coronavirus pandemic struck, Zimbabwe’s farmers receive 60 percent of their tobacco payments in United States dollars and the balance in Zimdollars, Zimbabwe’s local currency [File: Philimon Bulawayo/Reuters]
Tobacco is a bright spot in Zimbabwe’s agricultural sector, but wait times for crop payments and exchange-rate roulette can wreak havoc on farmers’ profits.
Harare, Zimbabwe – Bornface Batwero sits languidly in the driver’s seat of his lorry outside the Tobacco Sales Floor – an auction venue in the capital Harare where farmers gather from around Zimbabwe to sell their crops.
Harare, Zimbabwe – Bornface Batwero sits languidly in the driver’s seat of his lorry outside the Tobacco Sales Floor – an auction venue in the capital Harare where farmers gather from around Zimbabwe to sell their crops.
It’s mid-morning on a Monday. Batwero told Al Jazeera he was still waiting to receive payment for a consignment of tobacco he had sold on Friday, when he arrived from Centenary, a rural area in Mashonaland province, some 144km (89 miles) northwest of Harare.
“I am waiting for my payment later today,” said the 37-year-old tobacco farmer. “I don’t know how much they are going to pay me.”
Al Jazeera
Bornface Batwero sits languidly in the driver’s seat of his lorry outside the Tobacco Sales Floor – an auction venue in the capital Harare where farmers gather from around Zimbabwe to sell their crops.
It’s mid-morning on a Monday. Batwero told Al Jazeera he was still waiting to receive payment for a consignment of tobacco he had sold on Friday, when he arrived from Centenary, a rural area in Mashonaland province, some 144km (89 miles) northwest of Harare.
“I am waiting for my payment later today,” said the 37-year-old tobacco farmer. “I don’t know how much they are going to pay me.”
It’s turning bloody at African Sun, DPL. . . giant invokes law, whips minorities in takeover bid
BY MELODY CHIKONO
AFRICAN Sun Limited (ASL) yesterday laid out a road map for the dramatic takeover of stocks held by a minority of Dawn Properties Limited (DPL) shareholders who have turned down the giant’s ambition for full control.
Zimbabwe’s largest leisure chain made the offer last year.
Under the deal, ASL offered to acquire all issued ordinary shares in DPL based on one ordinary share for every 3,988075946 DPL shares to execute the complete takeover of the property operation.
Over 91% of DPL shareholders took up the ASL offer, leaving about 9% clinging to their stock, according to an ASL statement released yesterday, giving remaining shareholders a final chance to agree or face the courts.