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By Alois Vinga
A FACILITY provided by the Reserve Bank of Zimbabwe (RBZ) has enabled African Distillers Limited (Afdis) to pay US$22.5 million to the South Africa based partner, Distell Limited.
Details contained in the Independent Auditor’s report to Afdis shareholders for the period ended March 31 2021 show that the central bank facility enabled the company to settle the payment.
“Through a facility provided by the RBZ, the company made a payment of US$22,5 million to Distell Limited towards payables to Distell Limited related to technical fees, machinery, royalties, inventory items received and reimbursement for guarantee payments made by Distell Limited on behalf of the Company.