We’ve Run Out of Capacity”: Delta Beverages Injects US$120M into Expansion to Meet Record Demand

Driven by soaring domestic demand and a record-breaking surge in consumer spending across Zimbabwe, Delta Corporation has hit severe production capacity limits across its lager, sorghum, and non-alcoholic beverage units. Context & Key HighlightsThe Demand Crunch: Delta's annual revenue surpassed US$1.09 billion for the year ended March 31, 2026, driven by a 19% volume increase in lager beer, a 19% growth in sorghum beer, and 14% growth in non-alcoholic beverages. Existing brewing and packaging operations are running at maximum capacity, resulting in product stock-outs and tight allocations. Capital Expenditure Drive: Finance Director Alex Makamure confirmed that the capex pipeline for FY27 is set at US$120 million—nearly 2.7 times higher than the US$44 million invested in capacity upgrades over the previous year. Key Projects Underway:Full brewhouse replacement and new packaging lines at the Belmont plant in Bulawayo. Major brewing and filtration infrastructure upgrades at the flagship Southerton Brewery in Harare. Water supply security initiatives and additional bottling lines for non-alcoholic brands. Funding: The entire US$120M expansion is being financed through internal cash generation and existing banking facilities, requiring no new debt. "Supply remained constrained by extended capacity utilisation across brewing and packaging operations... The business is investing behind demand through capacity expansion projects to close product supply gaps."— Delta Corporation Annual Operational Review