UPDATED: Delta Reverses Decision To Charge Products In US Dollars After Meeting Chiwenga, RBZ

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Delta Corporation has reversed its decision to charge beverage products in US dollars after the Reserve Bank of Zimbabwe (RBZ) assured it of steady allocation of foreign currency for critical inputs.

This follows a meeting with Acting President Constantino Chiwenga and the Reserve Bank of Zimbabwe (RBZ) on Thursday. On Tuesday, Delta announced that its products will be charged in US dollars with effect from Friday the 4th of January 2019. Below is the joint press statement by Delta and RBZ:

Following a meeting convened by the Honourable Acting President, General (Retired) Dr. C. G. D. N Chiwenga with Delta Corporation and the Reserve Bank of Zimbabwe, at his Munhumutapa Office, on 3 January 2019, the following statement is issued jointly by the Reserve Bank of Zimbabwe and Delta Corporation.

The parties agreed that:

1. Delta withdraws the notice to sell its products exclusively in hard currency, in the spirit of the multi-currency framework.

2. The Reserve Bank of Zimbabwe will endeavour to provide the foreign currency required to ensure that Delta continues to trade on the current basis.


Related:

Delta CorporationReserve Bank of ZimbabweConstantino Chiwenga

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

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe

Constantino Guveya Dominic Nyikadzino Chiwenga is the current Vice President of the Republic of Zimbabwe, the second secretary of Zanu-PF political party and the former Minister of Defence . He is also the former Commander of the Zimbabwe Defence Forces (ZDF) and also the former... Read More About Constantino Chiwenga

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