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New dispensation boosts Delta

By Matthew Masinge / Published on Tuesday, 24 Jul 2018 15:10 PM / No Comments / 820 views

24 July 2018

 

…ED first head of state to tour plant

DELTA has recorded a strong ‘volume performance’ after the November 2018 events that ushered in a new dispensation under President Emmerson Mnangagwa.

This was said by the company’s chairperson, Canaan Dube during a Presidential tour of the expansion and modernisation of the facility by His Excellency yesterday.

The new project will see Delta Corporation investing $50 million in plant and equipment annually for the next five years.

“In April 2018, Delta published its financial results for the year ending 31, March 2018.

“I noted with pleasure that our business is certainly on recovery path, the company registered a strong volume performance particularly in second half of the year.

“Certainly this was after November last year when the new dispensation took office,” he said.

The listed company has since declared twice its dividends in a space of four months.

“Since November to date, Delta Corporation has declared dividends twice.

“This is a demonstration of confidence in the policies of the new government.

“Payment of dividends boost shareholder confidence and maximises shareholder returns,” said Dube to a thunderous applause.

In his main speech, President Mnangagwa commended Delta Corporation on its job creation and urged the company to invest on the regional market.

The Head of State toured the brewery’s lagers manufacturing hub in the capital and also officiated its modernisation project.

“I want to commend Delta Corporation for economic development and the confidence they have always shown in our trade and investment climate.

“I am so impressed that they are determined to spend $50 million per year towards modernisation and expansion of the company.

“You are helping to rebrand our country as a safe trade and investing destination in the region,” he said.

President Mnangagwa also encouraged the company to have linkages with local universities.

“I exalt you therefore to have linkages with our institutions of higher learning, they train skills which you need in the beverage manufacturing industry.

“As I discussed with the management, they informed me that the entire machinery at this plant is run by our own people, it’s commendable,” he said.

The group’s lager manufacturing plant installed 3 returnable glass packaging, 4 new Chibuku Super plants and 1 Maheu plant.

The visit by President Mnangagwa was the first by a sitting Head of State ever since it’s commissioning in February 1962 by the last Federation of Northern Rhodesia and Nyasaland Prime Minister, Roy Welensky.

The plant now has the capacity to produce 40 000 beer lagers per hour after its initial 150 000 per day.

Delta Corporation has also boasted of not increasing prices for its products since 2013 and now has interests in revamping roads on top of its corporate social responsibility.

They remain futuristic as the leading tax payer.

 

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