Zimbabwe Government Implements Measures to Boost Tobacco Industry Value-added

Jan.13.2023

Zimbabwe takes steps to add value to tobacco exports to reach $5 billion industry goal by 2025.

According to a report in the Zimbabwe Independent, the government of Zimbabwe in Africa has taken measures to ensure that tobacco is value-added before exportation.

Anxious Masuka, Zimbabwe's Minister of Lands, Agriculture, Water and Rural Resettlement, has announced that the government intends to achieve its $5 billion (approximately RMB 33.7 billion) tobacco industry target by 2025 through subsidizing the crop.

What we want to do is ensure that tobacco has more added value and advantages. We export 98% of our unprocessed tobacco, thus creating employment opportunities and value. It is estimated that we produce over 200 million kilograms of tobacco, which, when it crosses the border, can fetch up to $15 billion, but we only receive $1 billion." Masuka explained.

Our tobacco is worth billions of dollars in the international market, but as Zimbabwe, we only get 1 billion dollars (approximately 6.7 billion yuan). Therefore, the government has now developed a transformation plan to ensure that we increase both the quantity and value-added to reach a 5 billion dollar (approximately 33.7 billion yuan) industry by 2025.

In 2022, Zimbabwe's revenue was USD 650 million (approximately RMB 4.4 billion), up from USD 589 million (approximately RMB 4 billion) in 2021.

#Market #Disposable e-cigarettes #Africa #Egypt #Zimbabwe #E-cigarette Industry

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