DRINKS INDUSTRY
Zimbabwe forex squeeze hits bottler
Delta Corporation‚ the bottler of Coca-Cola and beers such as Castle‚ Castle Lite‚ Zambezi and Chibuku‚ is sunk in foreign debt
Harare — Acute foreign currency shortages in Zimbabwe will sober up many as the country’s leading beer and soft drinks manufacturer finds itself with about a week’s supply of raw materials. Delta Corporation‚ the bottler of Coca-Cola and beers such as Castle‚ Castle Lite‚ Zambezi and Chibuku‚ is sunk in foreign debt while it struggles to source foreign currency. Responding to inquiries from state daily the Bulawayo Chronicle‚ the company’s corporate affairs manager, Patricia Murambinda, said the forex situation in the country is having a negative impact on operations. "This is impacting on our production operations. We continue to make presentations to RBZ and our banks for priority forex payments‚" she said, referring to the Reserve Bank of Zimbabwe. Murambinda said the hardest-hit division was the Coca-Cola production line‚ which was left with a week’s supply of concentrate. "We were able to pick up a small order of concentrates from the available credit last week.... This is expe...
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