The RBZ recently published a list of their foreign currency auction beneficiaries for the whole year from July 2020 to July 2021. The list contains an astounding 1 632 beneficiaries who got a received at total of 1.5 billion Unite States dollars from the auction. The list also shows the sources of this foreign currency for this year starting in January of 2021 up to last month.

Below is the top 40 list of beneficiaries:

RankName of bidderAmount received this year January to July 2021Amount received from June-December 2020TotalPercentage Share
1BLUE RIBBON FOODS LIMITED12,953,32510,498,40423,451,7291.5%
2VARUN BEVERAGES (ZIMBABWE) (PVT) LTD12,955,6398,233,04221,188,6801.4%
3CANGROW TRADING (PVT) LTD9,860,1708,690,10518,550,2751.2%
4UNITED REFINERIES LTD11,623,8646,874,84418,498,7081.2%
5WILLOWTON GROUP ZIMBABWE10,735,7985,210,88315,946,6811.0%
6SURFACE WILMAR PVT LTD8,207,7277,646,49215,854,2191.0%
7OLIVINE INDUSTRIES8,723,0455,935,06914,658,1140.9%
8PURE OIL INDUSTRIES (PVT) LTD7,479,5266,848,46414,327,9900.9%
9DAIRIBORD ZIMBABWE P/L9,076,6564,832,11913,908,7760.9%
10ZIMBABWEAN BRANDS6,594,3425,381,08911,975,4310.8%
11ZFC LIMITED7,637,4894,186,89911,824,3870.8%
12DENDAIRY6,697,5344,560,58511,258,1200.7%
13Windmill (Pvt) Ltd5,776,0545,389,95411,166,0080.7%
14SABLE CHEMICAL INDUSTRIES6,851,7863,651,97810,503,7640.7%
15TELONE (PRIVATE) LIMITED6,174,2543,965,14910,139,4030.7%
16NATIONAL FOODS2,207,3347,497,0009,704,3340.6%
17NATPAK PRIVATE LIMITED4,854,4214,566,0819,420,5010.6%
18HUNYANI PAPER & PACKAGING (1997) (PVT) LTD4,379,5554,652,9329,032,4870.6%
19PRODAIRY (PVT) LTD4,990,4793,442,4458,432,9240.5%
20SCHWEPPES ZIMBABWE LIMITED7,443,038736,2978,179,3350.5%
21BARZEM ENTERPRISES (PVT) LTD5,471,8412,124,1147,595,9550.5%
22ZUVA PETROLEUM (PVT) LTD4,012,9793,514,3457,527,3240.5%
23TREGER PRODUCTS6,071,9071,314,1817,386,0870.5%
24CAPRI APPLIANCES (PVT) LTD5,086,3252,173,4097,259,7330.5%
25MASHWEDE DIESEL SERVICES3,471,5323,644,8287,116,3600.5%
26JP MORGAN4,202,5122,863,0167,065,5280.5%
27AGRI VALUE CHAIN ZIMBABWE (PVT) LTD3,287,9813,540,9836,828,9650.4%
28BLACKBOX INVESTMENTS (PVT) LTD3,851,3242,916,0546,767,3780.4%
29ALL COMMODITY EXPORTS P/L5,156,0111,555,6016,711,6120.4%
30VALLEY SEEDS ZIMBABWE PVT LTD2,122,7404,300,0006,422,7400.4%
31RAWFERT OFFSHORE SAL3,460,7182,869,0286,329,7460.4%
32MEGAPAK ZIMBABWE PVT LTD4,408,4471,906,1116,314,5580.4%
33BANK OF NEW YORK MELLON3,849,4012,346,5896,195,9910.4%
34THE ZIMBABWE BATA SHOE COMPANY (PVT) LTD3,744,0212,424,8956,168,9160.4%
35PROBRANDS (PVT) LTD4,245,4481,903,9846,149,4320.4%
36Farmec (Pvt) Ltd3,537,0282,574,2806,111,3080.4%
37Reinforced Steel Contractors (Pvt) Ltd3,794,4812,166,5425,961,0230.4%
38ESSAR TUBES AND TOWERS3,129,6302,805,0005,934,6300.4%
39STATE STREET BANK3,173,7512,687,9405,861,6910.4%
40BOC ZIMBABWE (PVT) LTD T/A BOC GASES3,199,7592,488,9825,688,7410.4%

NB. According to the RBZ, 70% of the money went towards the purchase of raw materials. Whether you hate or like the auction that is a remarkable and commendable feat indeed. The jury is still out on whether the auction is bigger than the informal forex market though. The informal market remains the main source of finance for the informal sector which is mostly made up of SMEs. In comparison, only US$172 861 399 was disbursed to SMEs through the formal market.

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