Delta Corporation

Stock performance

History

Delta Corporation grew out of Zimbabwe's colonial-era brewing industry and became the country's dominant beverage company. The South African brewer SABMiller held a large minority stake for decades, which passed to AB InBev when it acquired SABMiller in 2016.

Business model

Delta brews and sells lager beer (brands such as Castle, Zambezi, and Golden Pilsener), traditional sorghum-based opaque beer (Chibuku), and soft drinks under a Coca-Cola bottling franchise, and has interests in brewing in neighboring countries. Opaque beer and affordable lagers aimed at lower-income consumers are an important part of its volumes.

Market position

Delta dominates Zimbabwe's beer and soft-drink markets and has long been one of the most valuable companies on the Zimbabwe Stock Exchange.

Country impact

Delta is a major buyer of locally grown sorghum, maize, and barley and one of the country's largest private employers. Its results are a closely watched indicator of consumer spending power in Zimbabwe's dollarized, inflation-prone economy.