Zimbabwe: U.S.$ Payments Rekindles Cotton Farming Interest

THE extension of increased foreign currency threshold payments coupled with aggressive clearance of arrears backlogs has rekindled cotton farming interest in a development likely to see overall output increasing going forward, Cottco Holdings Limited has revealed.

ZWL payments extended to the sector over the past years had choked the crop’s output before the Cottco restrategized and offered to pay 75% in US$ with the remainder in local currency which has been faring well due to its relative…