Delta's move to sell products in US dollars hits brick wall as VP Chiwenga intervenes (FULL STATEMENT)

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Delta Corporation has reversed its decision to charge beverage products in US dollars after the Reserve Bank of Zimbabwe (RBZ) assured it of steady allocation of foreign currency for critical inputs.

This follows a meeting with Acting President Constantino Chiwenga and the Reserve Bank of Zimbabwe (RBZ) on Thursday. On Tuesday, Delta announced that its products will be charged in US dollars with effect from Friday the 4th of January 2019.

Below is the joint press statement by Delta and RBZ:

JOINT PRESS RELEASE BETWEEN THE RESERVE BANK OF ZIMBABWE AND DELTA CORPORATION: SALE OF PRODUCTS EXCLUSIVELY IN HARD CURRENCY

Following a meeting convened by the Honourable Acting President, General (Retired) Dr. C. G. D. N Chiwenga with Delta Corporation and the Reserve Bank of Zimbabwe, at his Munhurnutapa Office, on 3 January 2019, the following statement is issued jointly by the Reserve Bank of Zimbabwe and Delta Corporation.

The parties agreed that: 1. Delta withdraws the notice to sell its products exclusively in hard currency, in the spirit of the multi-currency framework. 2. The Reserve Bank of Zimbabwe will endeavour to provide the foreign currency required to ensure that Delta continues to trade on the current basis.

J.P Mangudya

Reserve Bank of Zimbabwe Governor

P. Gowero Chief Executive Delta

— Pindula


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