Dairibord Zimbabwe Holdings has requested the government to be exempted from paying duty in foreign currency.
The company is facing a myriad of challenges which include foreign currency shortages as it relies on imported components.
Speaking to the Parliamentary Portfolio Committee on Industry and Commerce during a tour of the company premises, Chief executive Anthony Mandiwanza said:
The product we import is powdered milk. That’s the biggest consumer of foreign currency, followed by the polymers that we call the plastic granules to convert into packaging material of all description because our products need to be packaged into different packaging materials that do not compromise issues of health.
The third key import bill is the raw materials which are the ingredients that we put into yoghurts and ice-creams to make them tastier.
… Juice concentrates are part of the list that attracts duty in foreign currency. We have already submitted an application to the Minister of Finance and Economic Development and the Industry and Commerce minister to consider exempting these concentrates from duty.
Dairibord Zimbabwe Private Limited (DZPL) is owned 100% by Lavenson Investments (Private) Limited which is 100% owned by Dairibord Holdings Limited. Dairibord Zimbabwe Private Limited is the flagship subsidiary of Dairibord Holdings Limited. It is arguably the biggest dairy products company trading in Zimbabwe and... Read More About Dairibord