The Reserve Bank of Zimbabwe (RBZ) has increased incentives under the tobacco export incentive scheme from 5 per cent to 12.5 per cent for the 2018 marketing season, Zimbabwe news site Newsday reported.

In a concession to the demands of tobacco farmers, RBZ and the Tobacco Industry Marketing Board announced the increase in a joint statement, citing the significance of tobacco sales to foreign currency earnings.
“Accordingly, and following consultations with tobacco industry stakeholders, the bank advises that the export incentive scheme for tobacco growers has been reviewed upwards from 5% to 12.5% for the 2018 tobacco marketing season.
“Given this significance and the need to ensure sustained growth of the sector to enhance its contribution to foreign currency earnings, the bank has reviewed the export support given to the sector,” the quoted statement read.
Newsday reported farmers’ unions lobbying for a review of the incentives scheme earlier in November.