E-voucher will affect farmers – ZNFU

Tobacco farming.

THE Zambia National Farmers Union (ZNFU) is concerned that the impending implementation of revised electronic banking system involving value limits on cheques and electronic fund by the Bank of Zambia will make banking difficult for rural farmers.
ZNFU said internet connectivity is poor in most farming areas making it difficult for farmers and farm workers to conduct electronic transactions.
The union said most of the seasonal farm workers only earn income during harvesting months, and that it is uneconomic for workers to bank such little money only to incur high bank charges, according to a recent report.
“ZNFU recently held a meeting with Bank of Zambia (BOZ) senior management to discuss the practical difficulties associated with the impending implementation of the revised Item Value Limits on Cheques and Electronic Funds Transfers (EFTs) by the Central Bank.”
“The ZNFU explained how the revised item value limits on cheques and EFTs would hurt thousands of farm workers in rural areas who have no bank accounts and have no access to ATM banking machines,” reads the ZNFU Friday brief it says.
ZNFU has since appealed to BOZ to allow the desired electronic banking system to naturally evolve based on free market mechanism as is the case with other countries in the region such as Kenya and South Africa that have rolled out their electronic banking infrastructure in Africa.
It says the Bank of Zambia assured ZNFU that its actions were not in any way intended to make farmers and farm workers’ lives difficult.

Facebook Feed