By John Bowker Bloomberg News Thursday, January 3, 2019
Delta Corp Ltd., part owned by Anheuser-Busch InBev SA/NV, told Zimbabwean customers it will accept only hard currency for its beverages as local businesses struggle to cope with foreign-exchange shortages.
The maker of Castle Lager, Chibuku sorghum beer, and a range of soft drinks hasn't been able to pay some international suppliers for "extended periods," choking off access to further credit, the Harare-based company told retailers and wholesalers in a letter dated Jan. 2. Delta, which will implement the measure from Friday, isn't receiving enough foreign currency from banks to pay for imports, it said.
"Our business has been adversely affected by the prevailing shortages of foreign currency," wrote Delta, about 23 percent owned by the world's biggest brewer. This has led to orders not being met or prolonged stock shortages, the company said. ...
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