By Staff Reporter
Zimbabwe’s largest mobile network operator (MNO) by Subscriber Base, Econet Wireless Zimbabwe, has increased tariffs and bundle prices with effect from 1 January 2023.
In a public notice, Econet said the adjustment is to accommodate the 0.5 percent value-added tax (VAT) increase that came into effect on 1 January. Econet said:
Please take note that our tariffs & bundle prices have been adjusted in line with VAT changes gazetted in the Finance Act (No.2), 2022 effective 1 Jan 2023.
In his 2023 national budget statement, Finance and Economic Development Minister, Mthuli Ncube increased VAT from 14.5 percent to 15 percent.
Ncube said the country’s VAT rates of 15 percent are comparatively lower than the SADC regional standard VAT rate, which averages 16 percent.