HARARE (Reuters) – SABMiller’s Zimbabwean affiliate Delta Corporation reported a 20 percent drop in lager sales for the first nine months to December, a sign consumers were feeling the pinch of a flatlining economy.
Delta, Zimbabwe’s largest listed company, said in a statement on Tuesday that consumer spending, previously higher during the traditional December holiday peak, was subdued and total revenue for the period was down 6 percent.
Soft drinks volumes were also lower but sales of sorghum beer were up eight percent as consumers shift to cheaper alternatives, the company which is 38 percent owned by global brewing giant SABMiller, said.
The southern African country’s economy is expected to be flat at 3.2 percent this year as businesses struggle with high costs, debt and electricity shortages in a country struggling to attract new investment.
(Reporting by MacDonald Dzirutwe; Editing by James Macharia)
