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Sunday, May 26, 2024
HomeNewsCottco Settles $21 Million in Outstanding Farmer Payments

Cottco Settles $21 Million in Outstanding Farmer Payments

The Cotton Company of Zimbabwe (Cottco) has announced that it has settled outstanding payments totaling USD$21 million to farmers.

However, despite repeated notices sent via mobile money platforms, $323,642 of these payments remain uncollected, raising concerns, particularly in the face of a drought year.

“This delay in voucher redemption is a cause for concern, particularly in this drought year where farmers require financial resources to ensure food security,” the statement read.

According to a statement released by Cottco, the breakdown of uncollected payments per province is as follows: Mashonaland West Province: 830 farmers are yet to collect, with payments totaling $82,384. Mashonaland Central Province: 416 farmers have uncollected payments amounting to $42,512.

Mashonaland East Province: 116 farmers’ payments totaling $15,329 remain unclaimed. Midlands Province: 578 farmers’ payments amounting to $32,872 have not been collected. Masvingo Province: 892 farmers are yet to collect their payments totaling $82,978. Matabeleland North Province: 276 farmers have unclaimed payments totaling $14,175.

Manicaland Province: 633 farmers’ payments amounting to $53,392 remain uncollected.

Cottco said payments were disbursed to farmers via mobile money platforms as vouchers and urged farmers to visit designated points to access their payments.

“These payments were disbursed to farmers via mobile money platforms as vouchers. Farmers are encouraged to visit Business Units or designated collection points promptly to access their hard-earned payments. Cottco remains committed to ensuring transparency and efficiency in the payment process, and encourages farmers to actively engage with the company to access their rightful payments without delay,” Cottco said

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