adminmade public last Thursday said that under Musokotwane, in 2010, tax incentives were irregularly granted to Varun Beverages – an Indian-owned company that promotes and distributes Pepsi in Zambia.
The government cancelled the deal and investigators said Musokotwane was questioned about it.
“Government has no scores to settle but there will be no sanctuary given to those who have committed crimes,” Finance Minister Alexander Chikwanda said on state radio last week. Under the deal, Varun Beverages was granted a deferment of value added tax and excise duty for five years. The company will now have to pay the duties, said Fedson Yamba, secretary to the Treasury. – Reuters.
Online Reporter
- Herald
- July 31, 2026
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Economy: Growth signs visible
Martin Kadzere Senior Business Reporter ZIMBABWE has made significant progress towards achieving upper-middle-income status, with the country’s Gross National Income per capita growing by 84 percent since 2021, Finance, Economic…
