An audacious break-in attempt at Delta Beverages’ Southerton plant was foiled after an employee discovered a tunnel linked to the stormwater drainage system.
The unusual attempt came to light on 17 February 2025, when the employee noticed signs of unauthorized activity beneath the brewery grounds.
Delta Beverages confirmed the incident in a statement, but offered few details on the intruders’ motives or whether they managed to steal anything.
The company assured the public that operations at the plant were not disrupted by the breach. Part of the statement reads:
<blockquote>
Delta Beverages Private Limited, a leading manufacturer of lagers in Zimbabwe, is currently investigating alleged attempt by unknown persons to illegally access premises at Southerton brewery through a pre-existing water storm drainage tunnel.
The incident, which was discovered on 17 February 2025 by Delta Beverages employees, has not caused disruption to our operations.
We are working closely with the police and responsible authorities to determine the veracity of the report and the possible motive and identity of the perpetrators.
We take the safety and security of our employees, facilities, and our assets very seriously.
We are cooperating fully with all responsible authorities involved in the investigation and are conducting our standard incident management and review processes.
We urge anyone with information about this incident to come forward and contact the police or 
our company directly.
</blockquote>

Pindula News

Someone tried to break into Delta Beverages' Southerton plant by digging a tunnel, but they were caught before they could do any harm. The company is investigating the incident with the help of the police. Thankfully, the brewery's operations were not affected by this breach. Delta Beverages wants to ensure the safety and security of their employees and assets, and they are asking for anyone with information about the incident to come forward.

Intruders Dig Tunnel In Bold Attempt To Break Into Delta Beverages' Brewery

Delta Beverages has extended its sponsorship of the Premier Soccer League (PSL) by another three years.
The sponsorship package will cover the Castle Lager Premiership, Chibuku Super Cup and Castle Challenge Cup Castle for three seasons, that is, 2024, 2025 and 2026
Delta Beverages unveiled the US$3.39 million three-year deal with the PSL at a function held in Harare on Thursday, 22 February.
The Premier Soccer League is getting US$1.13 million per season, the same amount the topflight received from Delta Beverages in the last deal that expired at the end of 2023.
The Castle Lager Premier Soccer League will get $700 000 while the Chibuku Super Cup will be sponsored for $375 000 per season.
The Castle Challenge Cup which acts as the season opener between league champions and the Chibuku Super Cup winners is worth $55 000 per season.
Speaking at the function held yesterday, Delta Beverages marketing director, Irimayi Muzorewa, said:
<blockquote>
Year after year our sponsorship gives us a unique opportunity to present our beer consumers with an activity that they as a nation love.
It (football) connects people from different backgrounds and creates moments in celebration of good times.
That for us showcases the opportunities that are leveraged through our sport which makes our investment worthwhile
The future of football is bright as we are seeing more and more new clubs emerge.
</blockquote>
Various football stakeholders including representatives of the Premier Soccer League club and the chairman of the ZIFA Normalisation Committee Lincoln Mutasa attended the ceremony.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Delta Beverages, PSL Pen Three-year Sponsorship Deal

Delta Corporation Limited, a company that produces beverages and is listed on the Zimbabwe Stock Exchange (ZSE), is financing a solar borehole project in the Nyahunda area of Bikita, Masvingo province. The project, which costs US$10,000, aims to provide clean water to over 5,000 people, including 500 students from Tagona Secondary and Chitenderano Primary Schools.
In addition to the borehole project, Delta Corporation has spent US$15,000 to refurbish a classroom block, a teacher’s house, and ablution facilities for the school children. These buildings were damaged by heavy rains in October 2023. The project began late last year and focuses on addressing the issue of inadequate water and poor sanitation in Tagona, Chitenderano Schools, and the Nyahunda community. This effort will help mitigate the spread of the ongoing cholera epidemic.
According to Ms. Patricia Murambinda, the general manager in charge of corporate affairs at Delta, Bikita experiences water shortages, and the community often faces outbreaks of diarrhoea and typhoid due to the use of contaminated water. The solar borehole project aims to provide clean and safe water to these vulnerable communities.
Ms. Murambinda emphasized that the project empowers communities to fight against the cholera pandemic while addressing the crucial need for water access. The solarized borehole will help alleviate water shortages caused by climate change in rural areas, benefiting some of the country’s poorest and most vulnerable people. The Chronicle cites Murambinda as saying:
<blockquote>
The Bikita water project is driven by the need to provide much-needed clean and safe water to the vulnerable communities.
This project has enabled us to take a step towards empowering communities to fight against the cholera pandemic, while delivering on the vital human need, of access to water.
The provision of the solarized borehole will alleviate climate change-induced water shortages in rural areas housing some of the poorest and most vulnerable people in the country, which has been made possible through a generous grant from Delta.
</blockquote>
Furthermore, the refurbishment of the classroom block, teacher’s house, and ablution facilities aims to ensure inclusive and equitable quality education, promoting lifelong learning opportunities for all. Ms. Murambinda also highlighted that the project has encouraged alumni and former students to participate in community projects. Some of them have recently collaborated to rehabilitate a borehole at Ngorima Clinic, which is handling increased cases of cholera.
The whole of Africa and the Southern African region in particular, is grappling with Cholera. As of February 15, 2024, Zimbabwe reported a total of 24,682 suspected cases of Cholera. Out of these, 2,586 cases have been confirmed. Fortunately, 24,009 people have recovered from the illness. However, there have been 71 confirmed deaths due to Cholera, and an additional 460 deaths are suspected to be related to the disease. 
<h3><a href="https://www.chronicle.co.zw/delta-corporation-bails-out-bikita-schools-scales-up-fight-against-fight-cholera/">More Pindula News</a></h3>

Delta Corporation Funds Clean Water Initiative In Masvingo Province

The Government has commended Delta Beverages for bankrolling the Premier Soccer League (PSL) as well as capacitating various football stakeholders in the country.
Delta Beverages are the sponsor of the Castle Lager Premier Soccer League, Zimbabwe’s top-flight football league.
Speaking at the 2023 Castle Lager Premier Soccer League Awards in Harare on Friday night, the Deputy Minister of Sports, Recreation, Arts and Culture, Emily Jesaya, who was Guest of Honour, said:
<blockquote>
Notably, I would like to thank Delta Beverages for their unwavering support towards football and sports development in Zimbabwe.
Under their different brands, Delta Beverages has changed the face of football through the Castle Lager Premier Soccer League as well as capacitating various football stakeholders through sponsoring training workshops and promoting sporting events.
The Ministry applauds you for your commitment towards sectoral growth. The Government would like to commend the Sport and Recreation Commission (SRC), ZIFA and PSL for ensuring that domestic football continued during the FIFA suspension and providing entertainment to football lovers around the country and sustaining footballers’ livelihoods.
</blockquote>
Delta Beverages Marketing Director Irimayi Muzorewa said it was a pleasure to celebrate the best players of the 2023 season.
PSL chairman Farai Jere commended the soccer stars and also challenged local players to score more goals next season after the Golden Boot was won by 13 goals this year.
Jere said 567 goals were scored from the 360 matches played during the season.
This was a significant decrease from the 594 goals netted last season. Said Jere:
<blockquote>
We expect our goals to go up each year but this year we had a challenge. The top goal scorer Takunda Benhura has 13 goals. Last year the top goal scorer had 17 goals.
So, it’s a challenge for the players to up their game. I would like to challenge our strikers to score more goals next season.
Our main objective is to improve our game so that it becomes attractive and makes it appealing to stakeholders.
</blockquote>
Ngezi Platinum Stars captain <a href="https://pindula.co.zw/Qadr_Amini">Qadr Amini</a> was crowned as the 2023 Castle Lager Premier Soccer League Soccer Star of the Year, Dynamos midfielder Donald Mudadi finished as the first runner-up and Bulawayo Chiefs striker Obriel Chirinda was the second runner-up.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Govt Commends Delta Beverages For Supporting Local Football

Matlhogonolo Valela, the CEO of <a href="https://www.pindula.co.zw/Delta_Corporation/">Delta</a>, has stated that the company has not felt any pressure from <a href="https://www.pindula.co.zw/Innscor_Africa_Limited/">Innscor</a>‘s last year launch of Nyathi beer, which was seen as a potential challenge to Delta’s dominance in the market. Valela claims that Delta still holds a 93% market share, only slightly down from the 94% they had in September 2022. He also mentioned that Delta has recently built a new Chibuku plant to increase production.
He said when Delta were the only ones in the market, they sold about 1.6 to 1.7 million liters per year, and both consumers and ourselves were satisfied. Valela added:
<blockquote>
All of a sudden the numbers I’m showing you suggest that market has almost doubled with the arrival of competition. So you become more intense and consumers have got choice, and everyone is happy. So we welcome competition. The competitor has put up a small blight relative to ours and I think it’s early days for them to actually have made a dent on what we do. When we look into their numbers compared to our numbers, they are still too small to even worry about what market share they have got.
</blockquote>
Valela also mentioned that based on statistics they received from suppliers who serve both Delta and Innscor, it is estimated that Innscor has a production capacity of around 30,000 hectoliters per month. In comparison, Delta is selling around 350,000 to 400,000 hectoliters per month. One hectoliter is equal to 100 liters. Valela believes that Innscor has not fully utilised its capacity yet and still considers them insignificant at this stage.
According to some analysts, Valela mentioning Innscor indicates that their beer brand, Nyathi, is making progress in Delta’s market. Some critics of Delta argue that Valela’s analysis demonstrates how big companies can be overtaken. They suggest that instead of comparing total market share, Valela should focus on the rate of growth. They also point out that Valela should pay attention to the outlets that Delta is not supplying due to credit control problems, as these are the areas where the competition is entering. They suggest that innovation in managing credit could be a key factor in handling the competition.
Innscor announced in late 2022 that they would be launching Buffalo Brewing Company, which would introduce the Nyathi beer brand into the market predominantly controlled by Delta Beverages. At that time, Delta held 86% of the traditional beer market and 95% of lager sales. When Innscor announced its entry into the brewery industry, Delta responded by introducing new variants of its Chibuku brand, such as Chibuku Scud Plus with a longer shelf-life, and Chibuku Super with a banana flavor. The company has also launched new beer brands like Sable. 
There have been rumors of a potential partnership between Delta and Heineken, although Heineken recently acquired Distell, which owns Afdis, a Delta associate. Delta has shown its ability to fend off competition in the soft drinks market, facing challenges from Varun Beverages, the maker of Pepsi, and Innscor’s Fizzi brands.
For Innscor to effectively compete with Delta in the traditional brew market, they will need to focus on utilizing their value chains and distribution networks, as well as offering competitive pricing and maintaining high product quality. Additionally, Innscor may consider investing more in sorghum farming to ensure a steady supply of ingredients. This could be achieved through their farming unit, PHI Commodities, which currently operates three farms and is expanding.
On the other hand, Delta obtains its barley and sorghum from local farmers through contracts. In 2021, they purchased 40,000 tonnes of barley from 47 farmers and received 13,500 tonnes of sorghum from 10,000 communal farmers and 50 commercial farmers.
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

Delta Speaks On Competition On Chibuku From Innscor's Nyathi

Six armed robbers attacked security guards and workers at a Delta Beverages depot in Chipinge before robbing the company of over US$20 000 and R18 000 in cash.
In a post on their Twitter page, the Police said the suspects, who are still at large, robbed the Delta Beverages depot on 22 May this year. Reads the post:
<blockquote>
The ZRP is investigating a case of robbery which occurred at Delta Beverage Depot, Chipinge on 22/05/23.
Six unknown suspects armed with unidentified pistols attacked security guards, a truck driver, and a cashier before stealing US$20 965 and ZAR 18 750 cash.
Anyone with information to report at any nearest Police Station.
</blockquote>
Armed robberies are on the increase in Zimbabwe as a lot of people now prefer storing value in US dollars often stocked away from formal banking institutions for fear of losing them.
According to the Zimbabwe National Statistics Agency, Zimbabwe recorded 1 120 armed robberies in 2021, compared with 931 in the previous year.
In 2022, in a bid to reduce robberies and rampant gun crime in Zimbabwe, Mnangagwa extended a gun amnesty that allowed Zimbabweans illegally in possession of firearms to surrender them to the police with no questions asked.
Here are some <a href="https://dev.concordparking.com/security-prevention/prevent-robbery/">robbery prevention tips</a> for businesses:
<ul>
<li>Stay Alert: Be aware of what is happening inside and around your business at all times.</li>
<li>Train Your Staff: It’s important to share robbery prevention and response guidelines with your staff so that they are informed.</li>
<li>Ensure Visibility: Make sure your business is well-lit on the inside and outside, especially key areas which include all entryways and windows.</li>
<li>Cash registers should not store large amounts of cash. Bank deposits should be made often, only during business hours and never at routine times.</li>
<li>Alarm systems and security cameras should be installed and announced using signage.</li>
<li>Inform potential robbers of the measures that your business has taken to deter robbery.</li>
<li>Entrances should be outfitted with deadbolt locks. Windows and doors should have metal crossbars.</li>
<li>Befriend your neighbours and agree to keep an eye out for each other’s establishments.</li>
<li>Hire real, live security personnel, that is, security guards.</li>
</ul>
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Delta Beverages Depot Robbed Of US$20 000, R18 000

<a href="https://www.pindula.co.zw/Zimbabwe_Stock_Exchange">Zimbabwe Stock Exchange</a>-listed <a href="https://www.pindula.co.zw/Innscor_Africa_Limited">Innscor Africa Holdings</a> is spending US$56 million for the coming year on new projects which include a beer manufacturing plant under its Buffalo Brewing Company (Buffalo). 
This comes after Innscor spent US$70 million on new investments last year, according to <a href="https://newzwire.live/innscor-is-opening-a-brewery-but-can-it-take-on-a-dominant-delta/">newZWire. </a>
More funds are expected to be injected into the alcohol unit in the near future, <a href="https://www.newsday.co.zw/local-news/article/200003363/innscor-invests-in-beer-plant">NewsDay</a> reported quoting Buffalo managing director Richard Mann.
The development is set to challenge Delta Beverages’ decades-long monopoly in the beverage sector on the Zimbabwean market.
Richard Mann told NewsDay that they were planning to break into the sorghum beer market with the Nyathi sorghum beer brand. Mann said:
<blockquote>
We are not yet in the market, but we expect to have our product in the market in December. The alcohol category is very broad. Sorghum and clear beer is common in the southern African region. Clear beer is not a segment of the category. There are some great clear beer brands out there that we would need to compete with.
</blockquote>
Innscor has been in the beverages game since 2013 when its Probottlers was launched with the Bally House Crush and cordial range.
A carbonated soft drink range was introduced under the Fizzi brand and more recently, the premium offering of mixers, the St Clairs range; including Indian Tonic and Soda water. Ginger Ale and Lemonade were added to the product range.
Mann said the company had invested in a plant that had the ability to supply a large portion of the Zimbabwean market in its first phase, and would employ 120 people at production capacity.
Mann said Nyathi was the brand name for the traditional beer made from maize, sorghum malt, water and yeast.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

ZSE-listed Innscor Africa Holdings Launches Beer Unit

Delta Beverages, a <a href="https://www.pindula.co.zw/Zimbabwe_Stock_Exchange" title="Zimbabwe Stock Exchange">Zimbabwe Stock Exchange-listed</a> integrated beverage company, last week launched a new beer brand, Sable Lager. 
Speaking at the launch of Sable Lager on 18 March 2022, Mr Iirimayi Muzorewa, Delta’s Marketing Director said: 
<blockquote>
What a wonderful and momentous day it is for Delta Beverages as we introduce a new lager beer to the portfolio of our well-loved brands, Sable Lager. Sable Lager is a culmination of many, many months of hard work by the entire Delta Lagers Team, our research and brand agency partners and we are confident that our consumers will enjoy, and wish it had come sooner, because of the unique proposition that it offers.
</blockquote>
Mr Rinomhota, Delta Lagers General Manager said the “new Delta beer brand,” Sable Lager is part of the company’s long-term vision to develop and grow existing brands, additional regional and global brands to its portfolio, and the expansion of its existing pack offerings to traders and consumers.
In her remarks at the launch, Kundayi Pamela Mawema, Delta’s Marketing Manager Lagers, described Sable Lager as “smooth,” “easy drinking.” She said:
<blockquote>
The launch of our smooth and easy drinking brand Sable Lager and I’ll repeat those words again, SMOOTH … EASY DRINKING, and I’m sure those of you that have already sampled our brand have experienced that smooth and easy drinking taste. My job tonight is to let you know about the journey we have travelled so far to get us to this point, where we launch to you, our esteemed colleagues, stake holder, business partners, members of the media and consumers.
To get here we have walked a long journey, filled with many experiences and learnings for us a business, and it goes a like this. My CEO, and his Group Management Committee, our Marketing Director and our Choir Master the General Manager for the Lager beer business. You gave us the chance to identify and pursue a new opportunity for the business. We sized this opportunity, and through research and validation, ensured that it would be lucrative for the business and our traders and definitely worth pursuing. Thereafter, we moved to identifying exactly who our group of target consumer would be. The likes of our influencers here Man Tawa, Voltz IT , Hilton. We had you in mind when we made this brand.
</blockquote>
She added that the company targeted the young and modern generation.
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

Delta Beverages Launches New Beer Brand

Beverages producer, Delta Corporation, has announced the appointment of Mr Sternford Moyo, a lawyer, as its new board chairman.
Moyo replaces Mr Canaan Dube who retired from the board on 31 July 2021 after serving as the chairman since August 2010.
Moyo is a prominent lawyer who specialises in mining, corporate and commercial law and is active in local, regional and international lawyers’ associations, which he had occasion to chair.
In a statement seen by Pindula News, Delta said: 

<blockquote>
Mr Sternford Moyo joins the Delta board as a director and Chairman of the Board. Mr Moyo is the Chairman and Senior Partner of law firm Scanlen and Holderness, and has<a href="https://news.pindula.co.zw/2021/01/13/sternford-moyo-becomes-first-iba-president-of-african-descent/"> recently assumed the position of President of the International Bar Association (IBA), the first IBA </a><a href="https://news.pindula.co.zw/2021/01/13/sternford-moyo-becomes-first-iba-president-of-african-descent/">President of African descent in the history</a> of the 74-year-old organisation.
Mr Moyo is a leading lawyer who specialises in mining, corporate and commercial law and active in local, regional and international lawyers’ associations which he had occasion to chair. 
He is currently a director of PPC Zimbabwe, Padenga Holdings and Alpha Media and chairs the Schweppes Zimbabwe board. 
He is a former chairman of Stanbic Zimbabwe and Zimra among other directorships.
Mr Moyo holds law degrees from the University of Zimbabwe.
</blockquote>
Delta also announced that Dr Alex Marufu joined the Board as an independent non-executive director. The beverages company added that Marufu has over 30 years of experience in managing technology businesses and digital transformation in both the public and private sectors. Added Delta:
<blockquote>
He is currently leading a projects management enterprise in South Africa. He is a non-executive director of CBZ Bank, chairs the board of TBWA Zimbabwe and Artson Systems in Kenya and previously chaired the NetOne Cellular board. 
Dr Marufu has worked for leading companies across the technology space including ICL, SAP Africa and EOH. Notably, he founded one of Zimbabwe’s earliest Internet companies PrimeNet Communications (now part of MWEB), and Uniswitch (later acquired by Twenty Third Century Systems), which dealt in electronic payment systems including internet banking, SMS Banking and third-party transaction acquiring.
Dr Marufu holds a BSc degree majoring in Physics with minors in Mathematics and Computing Science and an MBA from the University of Zimbabwe. He also holds a Masters in ICT and a PhD in Information Systems from the University of Pretoria.
</blockquote>
In March this year, Delta appointed Mr Matlhogonolo Valela as CEO replacing Mr Pearson Gowero, who retired from the role. 
Mr Alex Makamure, previously Delta’s company secretary and group treasurer, replaced Valela as the finance director Makamure.
More: <a href="https://news.pindula.co.zw">Pindula News</a>

Delta Appoints Lawyer Sternford Moyo As Board Chair

Delta Beverages has announced a whopping US$3.39 million three-year sponsorship package for the local premiership, the Zimbabwe Premier Soccer League (PSL).
Part of the money will go towards the league, while two knockout tournaments, the Castle Challenge Cup and Chibuku Super Cup will get the other chunk. The sponsorship package is for the 2021-2023 period.
In a statement this Thursday, the beverages manufacturer said its objective for 2021 is to capture all football fans enticing them to watch live games through promotional activities, support of their teams and sharing of the perfect moment in the comfort of their homes.
The company also said it is aiming at building strong acceptability of the Castle Lager and Chibuku Super brands in the market.
The total sponsorship package for each season will be US$1 130 000 payable in Zimbabwe dollars at the bank rate of the day. It is split as follows:
<ul>
<li>Castle Premier Soccer League – US$700 000</li>
<li>Castle Challenge Cup – US$55 000</li>
<li>Chibuku Super Cup – US$375 000</li>
</ul>

Delta Beverages Announces A US$3.39 Million PSL Sponsorship Package

Local power utility, ZESA, has rejected a transformer that had been offered by Delta Beverages to replace a faulty one at Lake Mutirikwi which pumps water to Bushmead Waterworks, Masvingo.
Masvingo is entering its fourth week without water after a transformer Lake Mutirikwi transformer developed a fault.
Delta then offered a new transformer to ZESA with an arrangement for repayment but the latter turned down the gesture.
ZESA group acting stakeholder relations manager Prisca Utete confirmed to The Mirror that the country’s largest power supplier will not take the transformer offered by Delta. Utete said:
<blockquote>In line with the synergies that we share with our valued consumers and other stakeholders, ZETDC remains grateful and appreciate the kind and progressive gesture made by Delta Beverages. However, it is our duty as an organisation to maintain and replace all electrical infrastructure.</blockquote>
The gesture by the local power utility frustrated Masvingo councillors who have resolved to approach the Minister of State for Masvingo Ezra Chadzamira for intervention.
The councillors, Sengerai Manyanga and Against Chiteme were so infuriated during their last council meeting on Monday that they accused the regional manager Jacqueline Hlatshwayo of sabotaging them. Manyanga said:
<blockquote>Hlatshwayo is sabotaging all council efforts to fix the transformer at the lake. The company refused an offer of a transformer from Delta. At the height of power outages, Hlatshwayo undertook to connect Bushmead Waterworks to the Bikita Minerals powerline which is not under load shedding. Residents blame us for water shortages when the problem is with ZESA.</blockquote>
More: <a href="https://news.pindula.co.zw/">Pindula News</a>; <a href="https://masvingomirror.com/zesa-rejects-delta-transformer-as-water-crisis-persists/?fbclid=IwAR2_n08yLCcWRdCr7P31lbGn3UzdG2Wh7IXI3lQ5g8G39hdypgBulUZ19FM">Masvingo Mirror</a>

ZESA Rejects Delta Transformer Meant To Address Prolonged Water Crisis

Several local companies have lauded the foreign currency auction system introduced by the Reserve Bank of Zimbabwe (RBZ) in June 2020, saying the move has stabilised pricing.
Innscor, the country’s biggest food manufacturer, said the introduction of the foreign currency auction system is extremely encouraging though the effects drought and the coronavirus are still apparent. The company said:
<blockquote>The introduction of the foreign currency auction system and Statutory Instrument 185 of 2020 allowed for the implementation of precise pricing strategies, enhanced planning capability, improved capital allocation and value preservation for the Group’s business units; these policy measures are extremely encouraging.
Despite the relative improvement in trading conditions, the local effects of 2019/20 drought season and COVID-19 pandemic are yet to entirely dissipate.</blockquote>
For Delta, the country’s biggest beverage producer, the relaxation of regulations allowing the use of foreign currency for domestic transactions and the introduction of the foreign currency auction system has to date, stabilised both the exchange rate and inflation. However:
<blockquote>There are still distortions in value chain costs as the Zimbabwean economy settles on the dual or multi-currency trading system.
The remainder of the year will depend on whether the current stability in inflation and the exchange rate will sustain.
The businesses in Zimbabwe are witnessing recovery in volume and profitability on the back of improved access to foreign currency through domestic Nostro sales and benefits from a stable exchange rate.</blockquote>
Econet Wireless, Zimbabwe’s biggest telecoms firm, has also welcomed the introduction of the Foreign Currency Auction System saying it has been successful in some of its bids on the auction system.
<h4>More: <a href="https://newzwire.live/here-is-what-zimbabwes-top-companies-are-saying-about-rbzs-forex-auction-so-far/" rel="noopener noreferrer" target="_blank">newZWire</a></h4>

3 Of Zimbabwe's Top Companies Speak On RBZ’s Forex Auction

Delta Corporation, a beverages manufacturer has announced that it has recorded an exchange loss amounting to $1,64 billion in the first quarter which ended March 31, 2020, due to a legacy foreign debt amounting to US$63,8 million.
This was announced by company chairman Canaan Dube who bemoaned the adverse effects of the inconsistency of market exchange rates and the fixed interbank exchange rate on the company. In a statement, Dube said:
<blockquote>The board notes that there remains a risk that the policies regarding these liabilities may be varied. Such a change would have a significant impact on both the statement of financial position and the statement of comprehensive income. The divergence of market exchange rates and the fixed interbank exchange rate creates a further risk that the “blocked funds” liabilities could be paid at exchange rates that are above the Reserve Bank of Zimbabwe settlement rates.</blockquote>
The <a href="https://financial-dictionary.thefreedictionary.com/Blocked+funds">Finacial dictionary</a> defines blocked funds as money generated by a company’s foreign operations that cannot be moved from one country to another because of one or more regulations in the country in which the money was generated.
The company’s revenue increased by 10% from $7,68 billion to $8,43 billion although profit for the quarter was 1,7% lower than the previous year after it decreased from $1,11 billion to $1,09 billion.
More:<a href="https://www.newsday.co.zw/"> NewsDay</a>

Delta Records $1.6 Billion Exchange Loss

Delta Beverages Zimbabwe, an integrated beverage company with a diverse portfolio of local and international brands in lager beer, traditional beer, Coca-Cola franchised sparkling and alternative non-alcoholic beverages has released an update which reflects the erosion of incomes.
The trading update for the year which ended 31 December 2019 indicated that beer volumes went down over the Christmas period, once a traditionally strong quarter for consumer spending. However, there was a recovery in soft drink sales as supply improved.
Delta attributes the relatively poor performance to a poor farming season which robbed the company of inputs such as sorghum and maize.
The company predicts that the status quo will prevail for a sustained period of time due to a huge deficit in foreign currency and inputs such as maize.
We present Delta’s trading update in full below.

FULL TEXT: Delta Beverages Predicts A Gloomy 2020

A Toyota D4D and a Delta beverages haulage truck were involved in a head-on collision at the Redcliff fly-over along the  Gweru-Kwekwe highway this morning leaving three people dead.
The Herald reports that the driver and two passengers died on the spot while one person was critically injured.
The accident was confirmed by Midlands police spokesperson, Inspector Joel Goko who was at the scene who said that the accident occurred around 8 am.
Goko said that the driver of the Toyota D4D twin cab who was driving towards Kwekwe attempted to overtake Kombi which at continuous lane resulting in the head-on with the Delta vehicle.
He added that the kombi which the Toyota driver tried to overtake was also involved in a pile-up but passengers in the kombi did not sustain serious injuries.
The seriously injured passenger who was in the Toyota was rushed to Kwekwe General Hospital.
More: <a href="https://www.herald.co.zw/just-in-3-killed-in-gweru-kwekwe-highway-accident/">The Herald</a>

Driver And Two  Passengers Die On Spot In Gweru-Kwekwe Accident

Delta Beverages corporate has reportedly increased beer prices, a development that is likely to see many boozers resorting to being sober.
The company is said to have already circulated the price increase notice with retailers in Harare.
The Daily News reports that several clubs and bar owners were on Friday charging an average of $12 for a pint of beer (brown bottle), up from $8 while a 750ml bottle had gone up to $20 from $12.
The publication further reports that some clubs were going beyond $20 citing other costs including fuel for generators.
The prices are going up, days after the Zimbabwe Energy Regulatory Authority (ZERA) raised fuel prices thereby triggering a wave of price increase in the country.
More: <a href="https://www.dailynews.co.zw/articles/2019/10/12/sobering-news-for-beer-drinkers">Daily News</a>

Delta Beverages Increases Beer Prices

The country’s largest beverages manufacturer, Delta Beverages, has slashed the prices of beer and soft drinks, following the improvement of foreign currency available on the interbank market.
Some of the beer products include 375mls brown bottle lagers which are now pegged at RTGS $3.00, while the recommended price for a quart is now RTGS $6.00.

Delta Slashes The Price Of Beer & Soft Drinks

Delta Beverages Private Limited said that it is now selling in RTGS$ all returnable Glass Packs (RGPs). In a statement released on June 4, the company said:
<blockquote>Following the improvement of foreign currency available on the interbank market for ongoing operations; we are pleased to offer all our returnable glass packs in RTGS$ with immediate effect. This policy position applies to both beer and soft drinks.
We urge all our wholesale and retail partners to align prices to our suggested price schedule that our sales force constantly communicates. We also appeal for the return of all empties back to our depots and breweries to facilitate the capacity to meet demand.
Please make use of our Customer Telesales Centre, Customer Collection Depots and Salesforce for your order placement.
Max Karombo 
OPERATIONS DIRECTOR – DELTA BEVERAGES</blockquote>
<img decoding="async" src="https://pbs.twimg.com/media/D8NeJR2XYAAYvMX.jpg"/>

Delta Now Selling In RTGS$ On All Returnable Glass Packs

The recent move by Delta Beverages to increase prices of beers has left many beer outlets deserted by patrons as they can no longer afford the prices.
It is reported that the cheapest beer now costs about RTGS$6 for a pint and RTGS$10 for a quart for local beers.
Bar owners have revealed that prices change week in, week out which result in huge losses to them. Moreover, they said that they purchase the alcohol using US$ and sell them using RTGS$ which is readily available for their customers. This puts them at high risk considering that exchange rates at the parallel market, where foreign currency is sometimes availe, frequently changes.
Most of the drinking places have been shutdown whilst the remaining are operating at below standard.
The increase in prices is atrributed to the scarcity of foreign currency on the market. Manufacturing companies import their inputs which means that they need foreign currency.
<h3>Related:</h3>
<ul>
<li><a href="https://zero.pindula.co.zw/delta-increases-beer-prices-again/" rel="bookmark">Beer Prices Increased Again</a></li>
<li><a href="https://zero.pindula.co.zw/delta-explains-price-increase-on-soft-drinks-and-beer/" rel="bookmark">Delta Explains Price Increase On Soft Drinks And Beer</a></li>
<li><a href="https://zero.pindula.co.zw/just-in-econet-reviews-data-bouquets-prices-upwards/" rel="bookmark">JUST IN: ECONET Reviews Data Bouquets Prices Upwards</a></li>
<li><a href="https://zero.pindula.co.zw/govt-to-assist-shops-in-setting-prices-for-goods/" rel="bookmark">Govt To Assist Shops In Setting Prices For Goods</a></li>
</ul>
More: <a href="https://www.dailynews.co.zw/articles/2019/04/30/beer-prices-suffocate-showbiz" rel="noopener noreferrer" target="_blank">Daily News</a>

Beer Prices Have Gone Beyond The Reach Of Many Alcohol Lovers

Delta Corporation, has outlined reasons behind the recently effected price increase on assorted  soft drinks and beer.
Amongst the reasons Delta is citing operational costs as well as foreign currency shortages for inputs. In January the firm was forced to sell in local currency following a Government intervention. Delta Beverages corporate affairs executive Patricia Murambinda said:
<blockquote>On February 14, the company increased price of 350ml pints from $1 to a recommended retail price of $1,50 while 750ml moved to $4 or morefrom $2. The company continues to review its wholesale prices to take into account the value chain costs. Most of the local production materials and services have increased substantially in the recent months. These include a barley price top up to align with the gazetted wheat price and hardship allowances paid to employees. It is apparent that local suppliers have factored in the prevailing foreign currency premiums into their pricing. As indicated before, our businesses are experiencing disruptions arising from the shortages of foreign currency for imported raw materials and services.We are, however, currently running at full capacity on lager beer and Chibuku, while the soft drink plants are on shutdown due to an outage of concentrates.</blockquote>
More: <a href="https://www.chronicle.co.zw/delta-explains-price-reviews/">Chronicle</a>

Delta Explains Price Increase On Soft Drinks And Beer

The permanent secretary in the Ministry of Finance, George Guvamatanga, reportedly questioned in a meeting of Heads of Ministries, why the government subsidizes beer in Zimbabwe.
The information was provided by Nick Managwana, the Information Ministry perm sec through his Twitter account.
Guvamatanga, who is also the former Barclays Zimbabwe managing director, apparently called for unpopular decisions to be made by the government.
Said Guvamatanga:
<blockquote>“Do you know that we subsidise beer? Why do we subsidise such things as beer &amp; cakes. Politically unpopular decisions have to be made”</blockquote>
Mangwana reiterated on his Twitter that these are not direct subsidies for Delta Beverages’ products but procurement subsidies for ingredients used in the production of beer products.
More: <a href="https://twitter.com/nickmangwana/status/1094137161350369282">Nick Mangwana on Twitter</a>

"Zimbabwe Government Subsidizes Beer", Finance Ministry Perm Sec

Delta corporation Limited (Delta) said shortages of its beverages will persist pending supply of foreign currency from the Reserve Bank of Zimbabwe (RBZ).
In a statement on Friday, the beverages company said it continues to sell its products in terms of the multi-currency framework. Said Delta:
<blockquote>The RBZ endeavours to avail the foreign currency required for the imported materials. It is noted that the arrangements will have lead times hence the current shortages of product particularly soft drinks will persist in the meantime.</blockquote>
<hr/>
<h4>Related:</h4>
<ul>
<li>
<h3><a href="https://news.pindula.co.zw/2019/01/07/delta-increases-the-price-of-clear-beer-by-up-to-by-25/" rel="bookmark">Delta Increases The Price Of Clear Beer By Up To By 25%</a></h3>
</li>
<li>
<h3><a href="https://news.pindula.co.zw/2019/01/03/govts-quick-response-to-delta-shows-it-values-beer-and-fizzy-drinks-more-than-the-health-of-its-citizens-magaisa/" rel="bookmark">Govt’s Quick Response To Delta Suggests It Values Beer And Fizzy Drinks More Than The Health Of Its Citizens- Magaisa</a></h3>
</li>
<li>
<h3 class="entry-title"><a href="https://news.pindula.co.zw/2019/01/07/govt-solution-to-deltas-issue-similar-to-price-control-it-will-not-work-economist/" rel="bookmark">Govt Solution To Delta’s Issue Similar To Price Control, It Will Not Work- Economist</a></h3>
</li>
</ul>
<hr/>
More: <a href="https://www.dailynews.co.zw/articles/2019/01/07/soft-drink-shortages-to-persist">Daily News</a>

Delta Says Soft Drink Shortage Will Persist Pending Foreign Currency From RBZ

Delta Beverages has increased the wholesale prices of clear beer by an average of 25%. The recommended retail prices have been adjusted accordingly.
The Beverages manufacturer issued a statement that reads as follows:
<blockquote>… the adjustment of the wholesale price is meant to cushion against the significant increases in local costs, as confirmed by the official inflation statistics.
It also addresses the value share with the retail partners. The Company is still assessing the cost impact on its other products. The Company notes the reports about hikes in the retail prices of its products.
These prices do not reflect the cost of acquiring the beverages from Delta. We commend the modern trade channel that continues to charge recommended prices. We urge our other retail partners to be considerate in dealing with the consumer.</blockquote>
This comes a week after the government reversed Delta’s plans to sell its products in US Dollars while vowing to continuously support it with financial incentives.
<h3>More: <a href="https://263chat.com/just-in-beer-prices-go-up-by-25/">263Chat.com</a></h3>

Delta Increases The Price Of Clear Beer By Up To By 25%

Speaking to The Standard, Economist and CEO Forum chief executive Kipson Gundani said government has no role in business and what it did on Delta’s issue was akin to price control.
He said the solution will not work but will result in more problems. Said Gundani:
<blockquote>Government has no role in business. It is the role of business to do business. In other words, government is controlling the prices of Delta products. Government is going against the market forces. History has shown us that such battles are never won. The obvious will happen. Delta products will disappear and there will be shortages. It is common knowledge that government does not have forex. They cannot subsidise everything from fuel to beer and drinks. That is going against the basic laws of economics. The solution offered by government will not work.</blockquote>
Zimbabwe National Chamber of Commerce chief executive Christopher Mugaga said government could reverse Delta’s move but at its own peril as that would lead to massive job losses. Independent economist Eddie Cross said legally Delta could trade in any of the currencies that are a legal tender and the move to block it was going to drive inflation.
More: <a href="https://www.thestandard.co.zw/2019/01/06/valueless-bond-source-zimbabwes-problems-say-analysts/">Standard</a>

Govt Solution To Delta’s Issue Similar To Price Control, It Will Not Work- Economist

Government is said to be considering allowing competitors to break Delta Corporation’s monopoly if it refuses to reverse its decision to charge its products in foreign currency.
According to the Mail and Telegraph, a highly placed official said that the government will not allow Delta to do as it pleases. Said the official
<blockquote>The government will not hesitate to remove or reduce tariffs and non-tariff barriers, such as licensing rules, quotas and other requirements which will allow foreign products to land at a cheaper cost than is being sold by Delta.
Government is also prepared to use its regulatory authority to deal with monopolies including tax adjustments and assist competitors prepared to follow the rules.</blockquote>
<h2>Related:</h2>
<ul>
<li class="entry-title">
<h3><a href="https://news.pindula.co.zw/2019/01/03/govt-speaks-on-firms-increasing-prices-to-buy-foreign-currency-from-money-changers/" rel="noopener" target="_blank">Govt Speaks On Firms Increasing Prices To Buy Foreign Currency From Money Changers</a></h3>
</li>
</ul>
<h3>More: <a href="https://mailandtelegraph.com/2019/01/03/delta-risks-losing-monopoly-as-govt-cracks-whip/">Mail and Telegraph</a></h3>

Govt To Break Delta's Monopoly If It Doesn't Reverse Decision On USD Pricing - Report Says

The Mail and Telegraph reports that Government has moved in to stop  Delta from selling its products in US dollars.
Writing on Twitter, the publication said top Government sources informed them that Minister of Trade &amp; Commerce who is also the Acting Minister of Information, Publicity &amp; Broadcasting Services Hon Nqobizitha Mangaliso Ndlovu has summoned Delta executives for a meeting. Unconfirmed reports say President Mnangagwa is also likely to meet Delta executives. The State owned Herald confirmed Ndlovu will meet Delta bosses on Friday. Ndlovu told the publication he was aware of Delta’s decision, but said he would engage the company to see if that can be reversed. Said Ndlovu:
<blockquote>I have seen it (the letter to customers advising of new pricing structure) but I think we should be meeting them on Friday (tomorrow). That cannot be allowed.</blockquote>
The meeting comes after Delta announced that it will be selling products in foreign currency on the local market starting January 4.
<hr/>
<h4>Related:</h4>
<ul>
<li>
<h3 class="entry-title"><a href="https://news.pindula.co.zw/2019/01/02/recommended-us-dollar-prices-for-delta-products/" rel="bookmark">Recommended US Dollar Prices For Delta Products</a></h3>
</li>
<li>
<h3 class="entry-title"><a href="https://news.pindula.co.zw/2019/01/02/delta-corporation-to-sell-its-products-in-foreign-currency-starting-4th-of-january-2019/" rel="bookmark">Delta Corporation To Sell Products In Foreign Currency Starting 4th Of January 2019</a></h3>
</li>
<li>
<h3><a href="https://news.pindula.co.zw/2018/12/24/tasteless-and-dry-christmas-as-delta-shuts-down-soft-drink-production-plant/" rel="noopener" target="_blank">Tasteless And Dry Christmas As Delta Shuts Down Soft Drink Production Plant</a></h3>
</li>
<li>
<h3><a href="https://news.pindula.co.zw/2018/10/12/delta-corporation-urges-govt-to-consult-before-major-policy-shifts-to-prevent-undermining-confidence/" rel="noopener" target="_blank">Delta Corporation Urges Govt To Consult Before Major Policy Shifts To Prevent Undermining Confidence</a></h3>
</li>
</ul>

Delta Beverages Latest News

Latest Jobs