Public Management

Zimbabwe: Tobacco exports generated $360 million since Jan. 2018

Tuesday, 15 May 2018 16:57

In Zimbabwe, revenues from tobacco exports amounted to $360 million since the beginning of this year according to the Herald, quoting data from Tobacco Industry and Marketing Board (TIMB).

Out of this figure, the regulator indicates that farmers captured the largest share ($236.3 million) while exporters received $123.9 million. Although these export revenues are down by 15% from the same period last year, TIMB forecasts a steady increase in income until August owing to a surge in market price.

The average earnings per kilogram stands at $2.87 per kg against last year’s $2.76/kg, and this signifies a 3.7 percent increase. This shows that this year’s prices are more attractive than last year’s, which is good news for the farmers,” TIMB revealed.

Let’s recall that tobacco is, with gold, Zimbabwe’s main foreign exchange reserve. It is mainly grown in Mashonaland (North side) and is mainly exported to China, South Africa, Belgium and the United Arab Emirates.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Guizhou Tyre plans a nearly $300 million tire plant in northern Morocco The factory will produce 6 million passenger vehicle tires per year The...
Fidelity Bank raised 259 billion naira, lifting eligible capital above CBN requirements First Bank of Nigeria also confirmed compliance after multiple...
Carrefour signed a franchise and supply agreement to enter Ethiopia with Midroc’s Queens Supermarket PLC. The partners will convert 13 existing stores...
Ecobank Nigeria repaid about $245 million, or more than 80%, of its $300 million Eurobond due in February 2026. The early repayment reduced...
Most Read
01

The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...

AES Launches Confederal Investment Bank: A Strategic Pivot Toward Sahelian Financial Sovereignty
02

Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...

Ethiopia Secures Preliminary Eurobond Restructuring Deal With Private Investors
03

Creditinfo licensed to operate credit bureau across six CEMAC countries Bureau to collect b...

CEMAC Bloc Clears Way for Private Credit Bureau: New Implications for Regional Lending
04

Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...

Flutterwave Adds Open Banking With Mono Acquisition
05

Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...

Togo Overhauls Anti-Money Laundering Rules to Meet Global Standards
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.