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: –
(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%