Beer shortages relief for Zimbabwe

Beer shortages relief for Zimbabwe
Published: 13 May 2018 (906 Views)
THE Reserve Bank of Zimbabwe (RBZ) has released US$1 million to Delta Beverages to avert potential beer and soft drinks shortages due to foreign currency challenges for imports.

RBZ Governor Dr John Mangudya confirmed that foreign currency was availed to help Delta Beverages import key ingredients.

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

"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."

Delta Company secretary Mr Alex Makamure said, "What I know is that we were given US$250 000 and the other allocation is coming.

"We had reached our credit limit with suppliers. It's difficult for big companies which require a lot of raw materials. The issue is our foreign currency is managed at a national level and there could be delays here and there.

Delta Beverages has recorded an increase in demand for beer and soft drinks. As of January 2018, lager and sorghum beers recorded a spike in demand with the volume growing by 36 percent above prior year while the volume for sparkling beverages increased by 14 percent compared to last year.

The increase in beer demand comes at a time when the Government is crafting a national alcohol policy which seeks to regulate alcohol consumption.

The policy is a brainchild of the late former Health Minister Dr Timothy Stamps.

He argued that the policy was the right pathway in maintaining good health and fight alcohol abuse.

In 2007, the then RBZ governor, Dr Gideon Gono, increased beer prices by 100 percent, saying Zimbabwe had been reduced to a country of drunkards due to cheap booze.

- Sunday Mail

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Zimbabwe complicates US policy with SADC

by Mmegi Online | 22 October 2018 | 8 Views

Ex-CIO RBZ director suspended again

by Staff reporter | 22 October 2018 | 41 Views

Mnangagwa, Chiwenga in tussle for RBZ

by ZimLive | 22 October 2018 | 54 Views

Lumumba's appointment declined by government

by Staff reporter | 22 October 2018 | 53 Views

Has anyone seen ED Mnangagwa?

by Sam Wezhira | 22 October 2018 | 62 Views

Tanzania ready to support Zimbabwe

by Staff Reporter | 22 October 2018 | 45 Views

4 RBZ directors suspended over 'illicit financial deals'

by Staff reporter | 22 October 2018 | 47 Views

ZRP urges vigilance on new carjacking methods

by Staff reporter | 22 October 2018 | 40 Views

Man breaks leg, arm in suicide bid

by Staff reporter | 22 October 2018 | 115 Views

Chiwenga threatens Chiwenga

by ZimLive | 22 October 2018 | 196 Views

RBZ captured by black market forex dealers, says Lumumba

by Staff reporter | 22 October 2018 | 157 Views

Mthuli Ncube's 2% tax court challenge dismissed

by Staff reporter | 22 October 2018 | 114 Views

Soldiers robbed

by Staff reporter | 22 October 2018 | 125 Views

P0rn stars not fit to be employed in govt offices - Ruhanya

by Stephen Jakes | 22 October 2018 | 111 Views

Wadyajena blasts Modi, Mthuli for indicating right while turning left

by Stephen Jakes | 22 October 2018 | 139 Views

MDC hijacked by dictators - Mpofu

by Stephen Jakes | 22 October 2018 | 111 Views

Chamisa 'Pfee' in fuel queue

by Stephen Jakes | 22 October 2018 | 91 Views

Of prophets-cum-political activists

by Nicole Hondo | 22 October 2018 | 78 Views

Mthuli Ncube should prioritise MDC MPs, says Mliswa

by Staff reporter | 22 October 2018 | 93 Views

Zifa complicit in Dembare disgrace!

by Staff reporter | 22 October 2018 | 98 Views

Minister voices concern over Lumumba appointment

by Staff reporter | 22 October 2018 | 94 Views

Birds of a feather, Mthuli Ncube flock with Lumumba?

by Staff reporter | 22 October 2018 | 86 Views

Political lessons from the village

by Anthony Mkondo | 22 October 2018 | 76 Views

PHOTOS: Black market cooking oil dealer in kombi crash

by Simbarashe Sithole | 22 October 2018 | 389 Views

Zimbabwean 'Ninja' honoured in Italy

by Agencies | 22 October 2018 | 144 Views

Mnangagwa's patience with Mangudya wearing thin

by Staff reporter | 22 October 2018 | 277 Views

Zimbabwe 'soldiers' invade shops, impose own prices

by newzimbabwe | 22 October 2018 | 291 Views

My question to Finance Minister - I smell a rat!

by Isaac Nkomah | 22 October 2018 | 200 Views

United Methodist Church embarks on clean-up campaign in Mvurwi

by Simbarashe Sithole | 22 October 2018 | 111 Views

Why Mnangagwa doesn't have the answers

by Robert Rotberg, Harvard University | 22 October 2018 | 196 Views

Luxury cars for ex-Mugabe loyalists

by Staff reporter | 22 October 2018 | 172 Views

Mnangagwa's Cabinet: The skeletons are tumbling

by Tawanda Majoni | 22 October 2018 | 240 Views

Guruve vendors denounce local council

by Simbarashe Sithole | 22 October 2018 | 111 Views

Chiwenga goes down memory lane

by Staff reporter | 22 October 2018 | 168 Views