Africa-Press – Zimbabwe. The Cotton Company of Zimbabwe (COTTCO) says it has disbursed US$9.9 million and ZWL$1 billion to farmers to date.
In an update to stakeholders, COTTCO board chairman Sifelani Jabangwe said there has been renewed interest in cotton farming largely due to the clearance of outstanding farmers’ payments. Said Jabangwe:
Farmer payments have been progressing well with US$9.9 million and $1 billion having been disbursed to farmers to date.
… Volumes are expected to have a marginal increase due to a small crop under hybrid seed.
To this end, Cottco staff are currently focusing on crop establishment activities for the new season.
Jabangwe said ginning is in progress with lint allocations to local and export consumers having commenced.
COTTCO is 38 per cent owned by the Government. The company provides nearly 400 000 households with free cotton inputs under the Presidential Free Cotton Inputs Scheme.
COTTCO has been administering the Presidential Inputs Scheme since 2015 after production had fallen to 28 000 tonnes from 352 000 at its peak.
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