Delta Corporation Urges Govt To Consult Before Major Policy Shifts To Prevent Undermining Confidence

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Beverage manufacturer Delta Corporation has called on the government to consult stakeholders before making any major shifts in policy as this could potentially undermine confidence in the markets. The company highlighted the 2 per cent tax on money transfers which was announced by Finance Minister Mthuli Ncube saying that the move had caught the market by surprise.

In an update, Delta company secretary Alex Makamure said

Post the end of the reporting period, the fiscal and monetary policy pronouncements have been dampened by the current policy statements which seem to contradict the previous undertakings by the Reserve Bank of Zimbabwe on the multicurrency framework…In addition, the 2% transaction tax took both business and consumers by surprise, raising policy risks and undermining market confidence. Government and regulators are urged to engage stakeholders ahead of major policy pronouncements in order to maintain market confidence.

The minister’s fiscal measures and the monetary policy announced by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya have been blamed for the spiralling of foreign currency rates in the past few days.

More: NewsDay

 

Delta CorporationMthuli NcubeJohn Mangudya

Delta Corporation Limited is a Zimbabwe Stock Exchange listed integrated beverage company with a diverse portfolio of local and international brands in lager beer, traditional beer, Coca-Cola franchised sparkling and alternative non-alcoholic beverages. It has investments in associate companies whose activities are in cordials and... Read More About Delta Corporation

Professor Mthuli Ncube is the Minister of Finance and Economic Development.He was the Chief Economist and Vice President of the African Development Bank ,financial, economics, investment, and public policy expert, entrepreneur and academic. Professor Ncube divides his time between the private sector in Switzerland and... Read More About Mthuli Ncube

John Panonetsa Mangudya is an economist and the current Reserve Bank of Zimbabwe governor. Mangudya, who sits on many local and international boards .He was made RBZ governor after the expiry of Gideon Gono's term in 2014. He had been CBZ Holdings Ltd Chief Executive... Read More About John Mangudya

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