Delta Corp Ltd., the Zimbabwean brewer that’s the nation’s biggest company by market value, said lager volumes decreased 26 percent in the fourth quarter on high excise duties and a collapse in disposable incomes.
South Africa’s ruling African National Congress faces its toughest-ever election on May 7 as some voters expected quicker improvement in their lives 20 years after the end of apartheid, party Treasurer General Zweli Mkhize said.
Zimbabwean factories are struggling to stay open in the face of cheaper imports from South Africa and China, the high cost of capital and lack of lending, according to a survey by state-run export promoter ZimTrade.
Zimbabwe has issued $103 million of Treasury bills to seven banks as the government repays debt stemming from the central bank’s seizure of foreign-currency accounts, according to a person with knowledge of the matter.
Robert Diamond’s Atlas Mara Co-Nvest Ltd. plans to arrange a 150 million-euro ($207 million) bond for President Robert Mugabe’s cash-strapped Zimbabwe government, said Finance Minister Patrick Chinamasa.