HARARE – Zimbabwe stock exchange listed, Delta Corporation Limited says it plans to recapitalise its beverage portfolio by investing US$50 million every year for the next five years which will boosts its volumes.

Delta Corporation, Chairman Mr Canaan Dube said this while addressing guest during Delta’s Presidential Plant Tour Program in Harare on Monday.

He said that the company is determined to achieve a rapid turnaround in its businesses which is currently reported on a positive trend.

Officiating the event, President Emmerson Mnangagwa commended Delta saying that the initiative to recapitalise its portfolio is key to attracting investor’s confidence.

“I’m so impressed Mr Chairman that you’re determined to spend $50 million every year both on modernisation and extension of delta,” he said.

“Investors want to invest where their capital is safe and secure. Your investing more in Zimbabwe is helping us to rebrand the country as a safe trade and investment destination of choice in the region.”

The group’s lager beer manufacturing plant installed three new state of the art returnable glass packaging lines while the chibuku business has four new chibuku super plants installed. The sparkling business benefited 230 plants, one returnable glass line and one maheu plant.

President Mnangagwa hailed the projects as strategic to boosting production and to offer an assortment of beverages to the people.

“This is commendable. The modernisation of this manufacturing plants, distribution fleet….will lower cost of production and ensure the delivery of affordable world class quality products as well as expanding beverage varieties available to our customers,” he said.

Delta recorded impressive volume performance in the financial year ended March 31, 2018.

“The company registered a strong volume performance particularly in the second half of the year and certainly after November last year when the new dispensation took place,” said Dude.

He further commended the significance changes related to the legislative framework and the impact it has created in making doing business in Zimbabwe and by Delta particulalrly, easy.

“Your Excellency, since November to date, Delta declared dividends twice. The payment of dividends is a demonstration of confidence in the policies your administration has put in place.

“Certainly, payment of dividends boost investor confidence and maximises shareholder returns. This is what investors look for and decide when and where to invest,” he said.

Mr Dube also highlighted that in the financial year to March 31, 2018, the company’s contribution to fisca by way of franchise, duties, VAT and company tax came to a whopping $141 million.

Delta Corporation Limited is principally an integrated beverage company with a diverse portfolio of local and international brands in lager beer, traditional beer, Coca-Cola franchised sparkling and alternative non-alcoholic beverages. It has investments in associate companies whose activities are in cordials and juice drinks, wines and spirits.