HomeBusiness DigestForex crisis saps beer supplier dry

Forex crisis saps beer supplier dry

Eric Chiriga

BEVERAGES manufacturer and distributor, Delta Corporation Ltd, says the shortage of soft drinks and beer is due to lack of crowns (bottle tops), carbon dioxide and concentrates.

The company said it is unable to access foreign currency to import these raw materials, which are used in the manufacturing of beverages.

“The current shortage of beverages is a result of the shortage of imported raw materials,” George Mutendadzamera, the corporate affairs executive of Delta, said.

“The country is experiencing a shortage of foreign currency and this has had a negative impact on all businesses that require imported raw materials,” Mutendadzamera said.

The crowns are supplied by the sole manufacturer in Zimbabwe, CarnaudMetalbox Zimbabwe Ltd.

Carnaud is said to be failing to access foreign currency to import raw materials used in the manufacture of the crowns.

Ian Randall, the general manager of Carnaud, could not be reached for comment as he was said to be out of office until Monday.

However, Mutendadzamera refused to disclose the strategies the company is implementing to overcome the problem and meet market demand.

“We are working with relevant stakeholders to stabilise the situation,” Mutendadzamera said.

The shortage of foreign currency in the country has crippled the manufacturing sector.

The government introduced the foreign currency auction system in a bid to get rid of the parallel market, where the foreign currency is readily available.

The disparity between the auction rate and the parallel market rate has continued to widen with the Zimbabwe dollar now trading at US$1: $20 000 and GBP1: $40 000 on the parallel market

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