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Delta's AB InBev places $120m unremitted dividends, fees into RBZ saving

by Staff reporter
11 Jan 2019 at 09:38hrs | Views
The world's largest brewer Anheuser-Busch InBev (AB InBev) has agreed to place the over $120 million owed to it in unremitted dividends and fees by Delta Corporation into the Reserve Bank of Zimbabwe savings bonds to reduce pressure on the demand of foreign currency.

In a statement, AB InBev said it remained a committed 40% shareholder in the Delta business.

"AB InBev has supported Delta through credit lines for the importation of raw materials since access to foreign currency became limited and continues to provide this support," Delta said in a statement yesterday.

"AB InBev remains the anchor shareholder in Delta."

Delta also refuted speculation on social media of asset stripping in favour of AB InBev.

"Delta, therefore, notes with concern the irresponsible conclusions reached in the social media claims, of asset stripping in favour of AB InBev. Rather, the Delta board is excited about the opportunities for growth as market leader in the traditional beer sector in the region," the beverages manufacturer said.

"It is in the public domain that in certain African markets, AB InBev is divesting from the traditional beer sector, a market segment in which Delta has proven competencies. The Delta board has resolved to bid for any such assets as they become available. To date, AB InBev has divested from Zambia and Malawi."

Source - newsday

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