Sugar tax, VAT choke StarAfrica

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STAR Africa Corporation (Star Africa) says the government’s reluctance to review the surcharge on sugar and value-added tax (VAT) expenses continue to erode the group’s operating margins. Authorities introduced a US$0,001/gram sugar tax on beverages in early 2024, while basic products, including sugar were moved from zero-rated to exempt, raising production costs. In its financials…