Originally by Sunday Mail
Zimbabwe’s beverage manufacturer Delta Corporation Ltd has been given US$1 million by the Reserve Bank Of Zimbabwe to avert potential beer and soft drinks shortages due to foreign currency challenges for imports.
This was after alleged rumors that circulated last week, saying Delta was left with one weeks supply of their products as a crisis was reportedly looming.
RBZ Governor Dr John Mangudya confirmed that foreign currency was availed to help Delta Beverages import key ingredients.
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“We are assisting Delta with their Forex requirements so that they meet the increased demand for beverages and beer in the country,” he said.
“We allocated US$1 million this week to Delta and we are putting in place an LC (Letter of Credit) to help them buy concentrates from Swaziland.
“The LCs are being drawn from Afreximbank’s US$150 million facility which is meant for strategic imports like fuel, industrial raw materials and pharmaceuticals.
“Delta is a strategic firm that belongs to the category of strategic firms that we prioritize.”
Delta Company secretary Mr Alex Makamure said, “What I know is that we were given US$250 000 and the other allocation is coming.
“We had reached our credit limit with suppliers. It’s difficult for big companies which require a lot of raw materials. The issue is our foreign currency is managed at a national level and there could be delays here and there