HomeBusinessRBZ fails to avail Delta’s monthly $5m forex need

RBZ fails to avail Delta’s monthly $5m forex need


DELTA Corporation says it has not received foreign currency allocation in the past three weeks, leading to sporadic supply of its products on the market.

By Freeman Makopa

Delta company secretary Alex Makamure told NewsDay on Friday that the group requires
$5 million in foreign currency on a monthly basis to import raw materials.

“We have not yet received any foreign currency allocation for the past three weeks and this has negative impact on our production, as we require it to purchase raw materials needed to make soft drinks. The business requires at least US$5 million every month to meet its imported raw materials needs,” he said.

“Right now, we are not meeting the national demand in soft drinks and we also have a high demand in beer, in which we are trying to supply to consumers. So RBZ (Reserve Bank of Zimbabwe) needs to avail these funds in order for us to curb these challenges.”

Corporate executive manager Patricia Murambinda refuted claims circulating on the social media that the company would, resultantly, retrench.

“Delta is not retrenching any workers. Our soft drinks business is operating below capacity due to foreign currency shortages to import critical raw materials, especially concentrates, which has resulted in intermittent product supply gaps in the market,” she said.

“We continue to engage our banks and RBZ to avail the required foreign currency and they are doing the best they can to avail the required foreign currency.”

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