RBZ Releases Foreign Exchange Auction Allotments, Beneficiaries For May 2023

The Reserve Bank of Zimbabwe (RBZ) has released information on foreign exchange auction allotments and payments for the period of 01 to 30 May 2023. In a statement seen by Pindula News, the central bank said during this period, the main foreign exchange auction allotted US$71,409,751 to 614 beneficiaries, while the SMEs foreign exchange auction allotted US$7,870,777 to 761 beneficiaries.

The total foreign exchange payments amounted to US$756,215,358, which included foreign currency accounts, foreign exchange auction allotments, and the interbank market. The majority of auction allotments were for raw materials and machinery and equipment, with the remaining portion going towards payment for services, consumables, retail and distribution, pharmaceuticals and chemicals, and packaging. The cumulative foreign exchange auction allotments since the inception of the Foreign Exchange Auction System stand at US$4,082,018,081. Reads the statement:

FOREIGN EXCHANGE AUCTION ALLOTMENTS AND FOREIGN EXCHANGE PAYMENTS FOR THE PERIOD 01 TO 30 MAY 2023

In line with its commitment to regularly keep the public informed of developments in the foreign exchange market, the Bank hereby advises that: –

1. The sum of US$71 409 751 was allotted to 614 beneficiaries under the Main Foreign Exchange Auction during the month of May 2023 and the sum of US$7 870 777 was allotted to 761 beneficiaries under the SMEs Foreign Exchange Auction during the month of May 2023.

2. Total foreign exchange payments for the period 1 to 30 May 2023 were US$756 215 358 broken down as follows: –

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(i) foreign currency accounts (US$662 891 023);

(ii) Foreign Exchange Auction Allotments (US$79 280 528); and

(iii) the interbank market (US$14 043 807).

3. The bulk of the auction allotments during the month of May 2023 (66,7%) was for payment for raw materials (US$37 837 688) and machinery and equipment (US$15 089 238), with the remaining 33,3% of the total allotments going towards payment for services (US$4 954 705), consumables (US$5 880 375), retail and distribution (US$9 459 110), pharmaceuticals and chemicals (US$2 553 364) and packaging (US$3 418 541).

4. Total cumulative foreign exchange auction allotments since inception of the Foreign Exchange Auction System stand at US$4 082 018 081.

5. Details of beneficiaries and sums allotted can be accessed on the Bank’s website, www.rbz.co.zw.

Top Beneficiaries:

One of the top beneficiaries is Varun Beverages Zimbabwe, a company that has been experiencing growth since its commissioning in 2018, which was officiated by President Mnangagwa. This company’s Pepsico franchise in Zimbabwe produces a variety of products, including Pepsi, Mirinda, Mountain Dew, 7Up, and Aquaclear. The government and the Indian company held a groundbreaking ceremony for a $30 million bottling plant in Harare in November 2015. See the list below.

NO.	BIDDER	AMOUNT ALLOTTED (US$)	SHARE (%)
1	VARUN BEVERAGES ZIMBABWE (PVT) LTD	1,334,380	1.87%
2	MOUNT MERU MILLERS ZIMBABWE (PVT) LTD	1,100,138	1.54%
3	DENDAIRY (PVT) LTD	924,037	1.29%
4	CAFCA LTD	917,235	1.28%
5	METBANK	800,000	1.12%
6	MEGA MARKET MILLING (PVT) LTD	799,488	1.12%
7	MEGA MARKET (PVT) LTD	699,645	0.98%
8	PRODAIRY (PVT) LTD	661,000	0.93%
9	UNITED REFINERIES LIMITED	641,100	0.90%
10	RESTAPEDIC MANUFACTURING (PVT) LTD	630,580	0.88%
11	TIRO LONGO INVESTMENTS	600,000	0.84%
12	ROYAL PLASTICS AND SUPPLIES (PVT) LTD	598,806	0.84%
13	ROWPALEX AUTO ELECTRICAL (PVT) LTD	560,000	0.78%
14	WILLOWTON GROUP ZIMBABWE	550,000	0.77%
15	MAKOMO ENGINEERING (PVT) LTD	545,668	0.76%
16	WELLOD TRADERS (PVT) LTD	539,715	0.76%
17	WINDMILL (PVT) LTD	531,264	0.74%
18	ETG INPUTS ZIMBABWE (PVT) LTD	512,993	0.72%
19	CAPRI APPLIANCES (PVT) LTD	500,492	0.70%
20	CANGROW TRADING (PVT) LTD	495,459	0.69%
21	PARROGATE ZIMBABWE	482,530	0.68%
22	UNILEVER ZIMBABWE (PVT) LTD	466,186	0.65%
23	UR SOAPS (PVT) LTD	464,334	0.65%
24	POLYPACKAGING (PVT) LTD	451,270	0.63%
25	PEOPLE’S OWN SAVINGS BANK	400,000	0.56%
26	MT & N DISTRIBUTORS	400,000	0.56%
27	AFRICAN BANKING CORPORATION	400,000	0.56%
28	PUNGWE B POWER STATION (PVT) LTD	399,969	0.56%
29	RAINBOW TOURISM GROUP (PVT) LTD	399,407	0.56%
30	SUNRAY CORPORATION (PVT) LTD	398,156	0.56%
31	HONDE HYDRO POWER CONSOLIDATED	396,568	0.56%
32	DAIRIBORD ZIMBABWE (PVT) LTD	395,840	0.55%
33	BLACKBOX INVESTMENTS (PVT) LTD	388,698	0.54%
34	ARENEL (PVT) LTD	384,087	0.54%
35	WALTROP INVESTMENTS (PVT) LTD	376,307	0.53%
36	PRIMTRIM ENTERPRISES (PVT) LTD	357,505	0.50%

37	MEGAPAK ZIMBABWE (PVT) LTD	350,000	0.49%
38	GRINDSBERG INVESTMENTS (PVT) LTD	348,211	0.49%
39	ZIMBABWE ONLINE (PVT) LTD	341,756	0.48%
40	POWERFUL GRAND INDUSTRIES (PVT) LTD	341,269	0.48%
41	THE ZIMBABWE BATA SHOE COMPANY LTD	335,396	0.47%
42	TREGER PRODUCTS	320,478	0.45%
43	PROFEEDS (PVT) LTD	314,330	0.44%
44	TYREZIM (PVT) LTD	311,696	0.44%
45	NATIONAL FOODS LTD	311,659	0.44%
46	VICTORIA FOODS (PVT) LTD	304,853	0.43%
47	OLIVINE INDUSTRIES (PVT) LTD	300,000	0.42%
48	SURFACE WILMAR (PVT) LTD	300,000	0.42%
49	BLUE RIBBON FOODS	300,000	0.42%
50	GRATON INVESTMENTS	299,900	0.42%
51	LEGEND LOUNGE (PVT) LTD	291,884	0.41%
52	PICKTALK INVESTMENTS (PVT) LTD	283,130	0.40%
53	CAIRNS FOODS LIMITED	279,515	0.39%
54	CHILMUND INVESTMENTS (PVT) LTD	277,524	0.39%
55	HILLCHEST INVESTMENTS	268,159	0.38%
56	KEFALOS CHEESE (PVT) LTD	266,598	0.37%
57	INTABA TRADING (PVT) LTD	261,131	0.37%
58	TRANSOCEANIC CORPORATION (PVT) LTD	261,092	0.37%
59	MUTAGECH LOGISTICS (PVT) LTD	259,101	0.36%
60	AI DAVIS AND COMPANY (PVT) LTD	251,997	0.35%
61	TEN TEN TECHNOLOGIES (PVT) LTD	250,000	0.35%
62	SCHWEPPES ZIMBABWE LTD	250,000	0.35%
63	THE COPIER PARTS (PVT) LTD	247,051	0.35%
64	LOTUS STATIONERY MANUFACTURERS (PVT) LTD	244,307	0.34%

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