THE Zimbabwe Stock Exchange (ZSE) together with the Victoria Falls Stock Exchange have signed a deal with the Tobacco Industry and Marketing Board aimed at enhancing tobacco production by small-scale farmers across the country.
In a joint statement, ZSE and the Tobacco Industry and Marketing Board (TIMB) said the deal was coming against a backdrop of funding and marketing challenges faced by small-scale tobacco growers and local merchants.
“The TIMB, ZSE and the Victoria Falls Stock Exchange Limited (VFEX) are pleased to announce the signing of a Memorandum of Understanding which forms a basis for cooperation in the fundraising for tobacco farmers, and fundraising for local tobacco merchants,” reads part of the statement.
The deal is also critical as it covers the compilation and distribution of tobacco production and marketing data as well as the establishment of a tobacco derivatives market.
“The full implementation of this MoU is expected to result in increased productivity and smoother cash-flows for small-scale farmers and improved capacity for local tobacco merchants,” said the joint statement.