Zimbabweans can no longer afford to drown their sorrows in beer as the product is now priced beyond their reach, according to the country’s biggest alcohol brewer Delta.
The CEO of Zimbabwe's Delta Corporation says although the company is managing to meet some of its demand, the foreign currency situation has become dire resulting in intermittent product shortages.
Zimbabwean delays in making foreign payments means Anheuser-Busch InBev will have to wait a bit longer before enjoying dividends from its Zimbabwean associate Delta Corporation.
Anheuser-Busch is set to get an improved dividend pay cheque after its Zimbabwean associate Delta Corporation improved its half-year dividend payout ratio to 80%.
Limited access to cash and a weak economy saw SABMiller's Zimbabwean associate Delta Corporation report an 11% decline in revenue for the quarter ended June 30 2016.
Analysts say SABMiller's Zimbabwean unit Delta's depressed update is no surprise as Zimbabwean consumers are hard-pressed for cash.
Zimbabweans have turned to traditional beer consumption as the country’s economy continues to head south, results from SABMiller's ZImbabwe unit Delta show.
Delta, the Zimbabwe-based unit of SABMiller, reported a 3% revenue drop in its third quarter, with volumes affected by a significant slowdown in consumer spend.
Zimbabwe’s brewery giant, the Delta Corporation, has resorted to price hikes after its attempt to charge for its products solely in US dollars was rejected by the Zimbabwean authorities.
Anheuser-Busch InBev is owed more than $40m in dividend payments from its Zimbabwean associate Delta Corporation, as the foreign currency crisis in that country worsens.
Zimbabwean brewery Delta Corporation, an associate of Anheuser-Busch InBev, has declared a second interim dividend as efforts to deploy cash into the business remain challenging.
The water rationing schedule issued by the City of Harare will see some areas going without water for over five days - among them SABMiller's Zimbabwean unit Delta.
Zimbabwe's Delta Corporation, which is 38% owned by SABMiller, has reported a revenue drop in its half-year results as consumers literally sober up in the pocket.
The chief of Qatar Airways has denied that his company receives subsidies and accused rivals Delta Air Lines of flying "crap" older planes.
Local shareholders are struggling to pay for the remaining 18% shareholding in SABMiller's Zimbabwean unit Delta Corporation to comply with empowerment laws.
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