RBZ Releases Forex To Delta To Avoid Beer, Drinks Shortage

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has confirmed that the central bank has released US$1 million to Delta Beverages. Mangudya said that this was done to prevent a potential shortage of beer and soft drinks.

Said Mangudya

We are assisting Delta with their forex requirements so that they meet the increased demand for beverages and beer in the country. 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 prioritise.

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