Published: 31 July 2017

Anheuser-Busch (AB) InBev is owed more than $40m in dividend payments from its Zimbabwean associate Delta Corporation, as the foreign currency crisis in that country worsens.

Speaking on the sidelines of the company's annual general meeting on Friday, CEO Pearson Gowero told Fin24 that the company is sitting on about $40m owed to the major shareholder AB Inbev.

"The amount could be as high as $50m if we include technical fees among others," said Gowero.

Delta is not the only Zimbabwean company struggling with repatriating dividends to foreign shareholders, with cigarette manufacturer BAT Zimbabwe also reportedly owing its major shareholders millions of US dollars.  

Foreign currency shortages have also seen the group owing its foreign shareholders around $11m in unpaid dividends.

- fin24

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