Cooking oil manufacturer suspends operations in Zimbabwe

Harare-Cooking oil manufacturer, Surface Wilmar has shut down its operations until further notice citing the current crunching foreign currency shortage which, has seen the company failing to service its foreign suppliers.

Sylvester Mangani the company’s Chief Executive Officer said the company has been failing to access enough foreign currency from the Reserve Bank of Zimbabwe for the past five months.
He said the situation has made it more difficult for the company to secure the needed raw materials mainly crude oil.

“We have stopped our operations because the company has not been getting adequate foreign currency and this has led to the ballooning of our obligations with our foreign suppliers who have since indicated their intention to stop supplying raw materials.

“Foreign currency has been a challenge hence our current position to stop operations until further notice” said Mangani

Surface Wilmar is currently owing its foreign raw material suppliers in excess of US$11 million. They are manufacturers of Pure Drop cooking oil.

The suspension of operations at one of the country’s biggest oil manufacturers comes hardly two weeks after Delta Beverages had pegged wholesale price of beverages in US dollars prompting the Government to intervene by providing the much needed foreign currency through the Reserve Bank of Zimbabwe.