RAINBOW Tourism Group (RTG) says it is expanding its operations into the Southern African region, with its first foray being the acquisition and development of a property in Cape Town.The hotelier’s chief executive Tendai Madziwanyika said the expansion marks a significant step for the group as it seeks to diversify its revenue streams and capitalise…
RTG expands into the region
The hospitality firm said higher Value Added Tax (VAT) and Pay As You Earn (PAYE) remittances drove the increase. VAT contributed US$6,2 million, while PAYE accounted for US$5,09 million, together representing at least 85 percent of the total.