ZIMBABWE – Delta Beverages, Zimbabwe’s largest beverage company, has officially renewed its sponsorship of the Premier Soccer League (PSL) with a new three-year deal valued at US$3.39 million.  

The sponsorship, facilitated through Delta Beverages’ Castle Lager brand, allocates US$2,265,000 for the championship race and US$1,125,000 for the Chibuku Super Cup over the three-year period.  

The new deal replaces the previous agreement signed in 2021, which concluded at the end of the last season. 

Expressing the company’s commitment to supporting football, Delta Beverages Marketing Director Irimayi Muzorewa stated, “Our sponsorship gives us a unique opportunity to intersect our loyal beer consumers with an activity they and the nation love.”  

Muzorewa emphasized the power of sport in connecting people from different backgrounds and creating moments of celebration. 

PSL chairperson Farai Jere said: “Today is a momentous occasion as we gather to celebrate not just the renewal of a sponsorship, but the continuation of a remarkable journey that intertwines the spirit of competition with the passion for the beautiful game. 

Jere highlighted the shared vision with Delta Beverages, emphasizing a commitment to excellence, football development, and the belief in sports’ power to inspire and unite. 

The sponsorship renewal comes shortly after Delta Beverages expressed concerns about the negative impact of the 2024 National Budget on the economy.  

Delta’s company secretary, Faith Musinga, predicted economic challenges, citing the potential impact of measures announced in the budget, including the sugar tax and restrictions affecting the route to market. 

Musinga stated, “The measures adopted in the 2024 budget will have a far-reaching impact on the business and the market in general.” She pointed out that the beverages sector would be affected by the sugar tax and market-related policies.  

Additionally, she expressed concerns about the potential impact on aggregate demand due to high inflation and reduced foreign currency inflows resulting from lower mineral prices and anticipated agricultural output reduction. 

Despite these concerns, Delta Beverages reported positive financial results for the third quarter of 2023, with a 19 percent increase in US Dollar revenue compared to the previous year. The growth was attributed to volume increases across business units, with US Dollar sales accounting for over 70 percent of total sales for the year. 

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