by Rudo Saungweme

Delta Corporation Limited Zimbabwe has agreed to withdraw the notice to sell its products exclusively in hard currency, in the spirit of the multi-currency framework following Government`s intervention yesterday.

Delta posted on its Twitter handle that “Following a meeting convened by the Honourable Acting President, General (Retired) Dr Constantino, Guvheya, Dominic, Nyikadzino Chiwenga with Delta Corporation and the Reserve Bank of Zimbabwe, at his Munhumutapa Office, on 3 January 2019, the following statement is issued jointly by the Reserve Bank at Zimbabwe and Delta Corporation. The parties agreed that, Delta withdraws the notice to sell its products exclusively in hard currency, in the spirit of the multi-currency framework; the Reserve Bank of Zimbabwe will endeavour to provide the foreign currency required to ensure that Delta continues to trade on the current basis,” the statement reads.

Reserve Bank of Zimbabwe (RBZ) Governor, John Mangudya, Minister of Finance and Economic Development, Mthuli Ncube together with Delta officials convened a meeting to reverse the decision by Delta to sell its products in foreign currency.

Delta had unilaterally decided to charge its products beginning today exclusively in foreign currency going against Government`s directive of not using the three-tier pricing system.

RBZ has assured Delta that it will provide the foreign currency needed to import the firm`s concentrates. Delta imports its concentrates from Swaziland.