Eight firms will not be cashing in on the 2023 tobacco buying season after the Tobacco Industry and Marketing Board rejected their application. Four new applicants have also failed to make the grade.
“I can confirm that of the 30 applications by Class A tobacco buyers this marketing season – eight failed to meet buying requirements. Then we also received eight new applications of which four of them also failed the legislative test. So, all in all, 12 A class buyers applications have been rejected by the board,” said Acting TIMB chief executive officer, Mr Emmanuel Matsvaire.
Some of the buyers that TIMB booted out for failure to follow set guidelines or meet include legislative requirements include Bullion, Munakiri Leaf Tobacco, InterAfrica Tobacco and Bigway Investments.
Mbaluki, Golden Ban, Huruyadzo, SaveMox and Dynamic.voluntarily phave voluntarily suspended themselves from the buying season pending TIMB investigations into their operations.
This means 21 companies have been turned down and there are 30 operators in the field this season.
This comes after the arrest and suspension of chief executive officer Meanwell Gudu on allegations of mismanagement.
Problems dogging the industry include side marketing and frustration of tobacco farmers over earnings.
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