Open nostro accounts, GMB tells farmers 

19 May, 2022 - 13:05 0 Views
Open nostro accounts, GMB tells farmers 

The Sunday Mail

Online Reporter 

Farmers have been urged to open nostro accounts to enable them to benefit from the US dollar payments for grain deliveries.

On Saturday, Government announced that farmers will get 30 percent of their dues in USD that will be deposited directly into their respective nostro accounts, whilst the remaining 70 percent will be paid in local currency.

In a statement, GMB chief executive officer Mr 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.”

He encouraged farmers to take advantage of the incentive and start delivering maize and traditional grains to GMB.

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