{"id":41126,"date":"2021-05-29T18:39:58","date_gmt":"2021-05-29T16:39:58","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/?p=41126"},"modified":"2021-05-29T17:46:18","modified_gmt":"2021-05-29T15:46:18","slug":"rbzs-mangudya-clueless-on-how-to-pay-389m-to-financially-excluded-farmers","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/rbzs-mangudya-clueless-on-how-to-pay-389m-to-financially-excluded-farmers","title":{"rendered":"RBZ\u2019s Mangudya Clueless On How To Pay $389m To Financially Excluded Farmers"},"content":{"rendered":"

Africa-Press<\/a> – Zimbabwe<\/a>. <\/strong><\/span>The governor of the Reserve Bank of Zimbabwe (RBZ), Dr John Mangudya has said he is clueless on how to pay $389 million due to farmers as they are financially excluded.<\/p>\n

Mangudya said the concerned farmers do not have either bank or mobile money details making it difficult to pay them since payments need to be done within the financial system in line with money laundering regulations.<\/p>\n

He said the preferred solution was for the financially excluded farmers to open low-cost bank accounts, which can be done easily, as the RBZ has ruled out printing cash for the payments.<\/p>\n

Mangudya told the Parliamentary Portfolio Committee on Lands and Agriculture on Thursday that the farmers would be paid, but there were challenges with the unbanked lot.<\/p>\n

The committee, chaired by Gokwe Nembudziya legislator Justice Mayor Wadyajena (Zanu PF), wanted an update on the settlement of $1.5 billion owed to farmers for cotton delivered last season.<\/p>\n

Mangudya said the schedule from Cottco showed that $436.6 million ought to be paid through mobile banking platforms while $66.6 million was for those with bank accounts and $389.5 had no banking details.<\/p>\n

The RBZ will start payments Friday for the $66 million for those with banking details while pursuing solutions on how to settle payments for those without bank accounts. Mangudya said:<\/p>\n

In response, Cottco managing director Mr Pious Manamike said farmers resisted having bank accounts citing concern over the withdrawal limit and the distance they have to walk to nearest financial institutions, while others stay in areas with no mobile network for them to use mobile banking platforms, among others.<\/p>\n

More: Pindula News; The Herald<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. The governor of the Reserve Bank of Zimbabwe (RBZ), Dr John Mangudya has said he is clueless on how to pay $389 million due to farmers as they are financially excluded. Mangudya said the concerned farmers do not have either bank or mobile money details making it difficult to pay them since […]<\/p>\n","protected":false},"author":84,"featured_media":41125,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,4422,4423,1859,19],"class_list":{"0":"post-41126","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"category-homepage-english","10":"category-twitter","11":"tag-africa-press","12":"tag-africa-press-zimbabwe-2","13":"tag-cottco","14":"tag-cotton-farmers","15":"tag-reserve-bank-of-zimbabwe-rbz","16":"tag-zimbabwe"},"yoast_head":"\nRBZ\u2019s Mangudya Clueless On How To Pay $389m To Financially Excluded Farmers - zimbabwe<\/title>\n<meta name=\"description\" content=\"The governor of the Reserve Bank of Zimbabwe (RBZ), Dr John Mangudya has said he is clueless on how to pay $389 million ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbzs-mangudya-clueless-on-how-to-pay-389m-to-financially-excluded-farmers\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBZ\u2019s Mangudya Clueless On How To Pay $389m To Financially Excluded Farmers\" \/>\n<meta property=\"og:description\" content=\"The governor of the Reserve Bank of Zimbabwe (RBZ), Dr John Mangudya has said he is clueless on how to pay $389 million ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbzs-mangudya-clueless-on-how-to-pay-389m-to-financially-excluded-farmers\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-29T16:39:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-29T15:46:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/05\/img-60b261a418473.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"899\" \/>\n\t<meta property=\"og:image:height\" content=\"578\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbzs-mangudya-clueless-on-how-to-pay-389m-to-financially-excluded-farmers\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbzs-mangudya-clueless-on-how-to-pay-389m-to-financially-excluded-farmers\",\"name\":\"RBZ\u2019s Mangudya Clueless On How To Pay $389m To Financially Excluded Farmers - 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