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Oliver Kazunga, Senior Business Reporter
LEADING crocodile skin and meat processor, Padenga Holdings Limited, contributed US$3,5 million to the fiscus through taxes in 2019.
This is contained in the recently released company’s annual report for the year ended December 31, 2019, where the group said apart from uplifting rural communities and funding conservation activities by the Zimbabwe Parks and Wildlife Management
Authority (ZPWMA), it was keen to contribute more to the national economy.
“Padenga’s total payments to the Zimbabwean Government and local authorities for 2019 was US$3,539,866.
“The key contributions to the fiscal revenue in 2019 were through the payment of corporate tax (52 percent), duty payments (19 percent) and
the 2 percent fee levied against invoice value for the issuance of Cites export permits (14percent),” it said.
The group said the CITES permit validates that the export of skins and meat is legitimate and that these products were produced in a manner that is lawful and in accordance with sustainability and best practice norms.
ZPWMA receives additional payments for breeders’ licences, land tenure leases as well as fees for the collection of wild eggs within the national parks’ estate.
The Nyaminyami Rural District Council (NRDC), within which Padenga operates, receives lease fees for NRDC-owned land, plus levies for the wild eggs collected on communal land under its authority.
During the period under review,Padenga demonstrated continued commitment to social investment by spending a total of US$81,523 on the various social investment initiatives.
This was an increase in investment compared to the US$79,531 spent in 2017 and US$76,839 in 2016, however, a decrease against the total of US$106,424 spent in 2018.
Since 2015, the crocodile producer has supported local communities through various projects and initiatives.
Last year, the social initiatives it funded included a project on drought mitigation within the Mola community in Kariba where the company responded to the widespread and devastating drought experienced in the area.
Padenga is one of the founder members of the International Crocodilian Farmer’s Association (ICFA), a grouping of 12 producer members that has jointly participated in the development of standards governing the production of crocodilians.
The set of standards that have been developed cover all aspects of production including husbandry, animal welfare, best practice, environment, sustainability and social considerations.
Online Reporter