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GMB Tells Farmers To Open Nostro Accounts

GMB Tells Farmers To Open Nostro Accounts

The Grain Marketing Board (GMB) has urged farmers to open Nostro accounts to enable them to receive US dollar payments for grain deliveries.

In a statement, GMB chief executive officer Rockie Mutenha said:

The GMB is encouraging farmers to update their Nostro banking details with our supply chain managers at all depots throughout the country for timeous payments.

For those with GMB farmer cards, the Nostro accounts will be automatically generated in our system.

On Saturday, Finance and Economic Development Minister Mthuli Ncube announced that farmers who deliver their grain to GMB will get 30 per cent of their proceeds in US dollars and 70 per cent in Zimbabwe dollars.

Ncube said the payment will be calculated at the prevailing willing buyer willing seller rate. He said:

In the quest to incentivise farmers and encourage early deliveries of maize and other grains to the Grain Marketing Board, the government has taken the decision to pay the maize farmers 30% of the amount due on grain delivered in United States Dollars and 70% in domestic Zimbabwe dollars.

The US Dollar payment will be calculated at the prevailing willing buyer willing seller rate published by the Reserve Bank of Zimbabwe on the date of delivery.

The payments will be backdated to the date of the first deliveries of this season’s maize to GMB.

More: The Sunday Mail

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25 Comments

chibaba 2 months ago

Aa ko vadii vangoti 50%


Asalif 2 months ago

those people are at it again Nostro accounts for what Pay them with the hard cash you were paid by companies you gave grain the likes of Delta Beverages and Milling companies haibo you want to deposit air in those accounts don't take farmers for granted farming is expensive these days considering , fuel for land prep, tractor hire or spares if yours,seeds and fertilizer , labour at all stages musajairira vanhu they should rather stay with their grain selling for human consumption


Bree 2 months ago

pakuzoti willing buyer willing seller rate ayii surrend what kind of rate is that


Mujibha 2 months ago

Farmers beware @Asalif is just a failed citizen who wants to incite public violence and despondency. He doesn't work he only wants to get paid for propaganda. You can withdraw USD from your nostro account. GMB want to avoid theft cases from robbers at its branches.


Asalif 2 months ago

were will they get the funds when they are failing to pay workers and retreched workers and get services of prisoners

Blue 🔵 2 months ago

Daily dose of the truth. We need such mentality. Big up Mujibha

Asalif 2 months ago

what will you give them , you gave the Chinese guys billions of Rtgs boooom straight to the black market were you also flood with your bond and he is bidding high rate now what can you do to him hapana he is taking the whole forex right now until bond rake rapera and he is doing as per instructions you told him take this go to the streets you will get forex


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Mujibha 2 months ago

Slave trade was abolished but apparently some of our African brothers seem to suffer from post-slavery syndrome(PSS).

Symptoms of PSS
1. The white man is always right.
2. I cant start a farm or mine without the white man.
3. Chamisa will bring the white man so that we work for him.
4. Money and food comes from the white man.
5. My success depend on the white man.


Mujibha 2 months ago

Am saying the government works for you. You voted for the government. Next year you vote again. Government is the worker not you. So when you have a worker you must create a good environment for him/her to work on without sabotage. That is how you beat the divide and rule strategy.

Asalif 2 months ago

so you mean to say we should be slaves of this failed regime , Iwewe kana boots ikakurwadza what do you do , unot****mo or you simply remove it worohwa zvako nemhepo ropa rofamba I'm waiting for the answer

Asalif 2 months ago

Are our brothers and sisters not working for Chinese and Russians are they Zimbabweans on top of that government is getting nothing because of externalizing of forex and returns the country is benefiting nothing only environmental degradation and pollution

you 2 months ago

nhy iwee mujibha the real sympton of PSS is not admitting paunenge watadza what is the difference yezvaurikutaura nezvikuitwa nema china some of ur points are correct we need to invest in ourselves indiginisation is gud bt ur government failed to create a conducive environment zvimwe zvacho akomana bvumai kwete kungoita ruzha musapinde mu politics ne heart do not be selfish kut u want everyone's future to be messed up even ur kids to have a bad future nekt ukungoshingirira ku sapota a sinking ship amana kuraiwo


Asalif 2 months ago

😅😅😅at my age listening to that is there a Chinese owned mine In South Africa or Botswana they are limited they don't touch anything like that what's theirs is selling their zhing zhong good and South Africa set standard they don't just sell anything like they do here in their dumping ground if they sell sub standard goods authority come unoona zvava mumoto or back to China they don't take nonsense and they do construction yes

Mujibha 2 months ago

The greatest resource that we have is land. Am opposed to the idea that we can't develop without the West. That is what is preached in opposition propaganda its a fallacy. What we lack as Africans is unity. Once we unite, gather the most intelligent minds amongst us,
put technology, work hard and have faith in our own systems we begin to develop. Ask yourself why things were stable at GNU but the first republic was surrounded by corrupt criminals. The USD we love is backed by nothing its just printed paper but they united to trust in the currency. Now we have an election and you start to see prices go up unexpectedly which shows that we are only sabotaging ourself. I am not saying no foreigner must come here to invest but that we must not sabotage our own economy. Zimbabwe is not the only country in Africa with Chinese people. They are investing billions in South Africa and other African countries. In fact China manufactures most of America's products its the workshop of the world. Lets be united custodians of our country and guard it jealously.

Blue 🔵 2 months ago

This beautiful country cannot achieve anything if people are always complaining

Asalif 2 months ago

who doesn't have land in this country would I be here if I don't have any would I be talking about farming if I don't have land we are . I can I not cry when I'm facing challenges that is why I asked you that ukarwadziwa neboots yako yekuleft do you keep on wearing it or unobvisa ropa rofamba


Mujibha 2 months ago

We need to take you to the school of ideology. You must read books and take notes under the supervision of professors. Gvt is not your shoe or your wife. Its for everyone. The second republic serves everyone. Cooperate with it in the projects like youth empowerment. Stop sabotaging.

Asalif 2 months ago

so I should just give the GMB my grain for a song without calculating my production costs . That is why this country is where it is because it is being run like a tuckshop as for me I can't run my business like what you wish


Asalif 2 months ago

professors of propaganda my foot . which empowered youths do you talk of , the youth just roam around the streets high on drugs and tumbwa . if you are are empowered yes so don't sing that song for everyone. and failed to answer the question also , mwana asingacheme anofira mumbereko that is why tichitaura zvichemo zvedu kuhurumende be it Facebook, messenger , what's app, Tweeter, every platform they should hear our grievances period


farmers 2 months ago

hey hatisi mapenzi isu Nostro for what we want cash coz ndoda kunotenga grocery kunze


Leee 2 months ago

Zvatotanga ipap ukaona vakudero hapana chobuda vachapedzisira vakutoisa kuecocash


Mujibha 2 months ago

Most of the manufacturering in Zim are owned by Zanu-PF stalwarts. How do they sabotage themselves. This is just total failure by Mujibhas who purport ti have fought the war when thet were just sentinels


Asalif 2 months ago

give us the example of companies that manufacture owned by Zanu pf members

Asalif 2 months ago

and name of products they produce which are on the local and foreign markets


😀😀😀 2 months ago

Gmb hapasisina zveCompany paya



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