2025 tobacco marketing season grower payment modalities

The Reserve Bank of Zimbabwe (RBZ) has established the payment structure for tobacco growers in the 2025 marketing season. According to the newly issued guidelines, growers will receive 70% of their payments in foreign currency while the remaining 30% will be paid in local currency (ZiG).

In a statement release to industry stakeholders and grower bodies on February 25, 2025, Emmanuel Matsvaire, Tobacco Industry and Marketing Board (TIMB) Acting CEO, encouraged all tobacco growers to establish accounts with financial institutions of their choice to facilitate seamless payments through official banking channels.

TIMB has emphasized that growers should refrain from trading the 30% local currency component on the parallel market.
The board noted that the RBZ has implemented measures to maintain the value of the local currency through a robust tight monetary policy, supported by adequate foreign reserves backing the ZiG and open market operations.

As an additional value preservation measure, tobacco growers will have the option to invest 5% of their local currency component in the United States Dollar Denominated Deposit Facility (USDDDF) through their respective banks. These funds can be accessed when needed at the prevailing Willing-Buyer-Willing-Seller interbank exchange rate.