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Home » Exchange controls cost Padenga US$9 million
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Exchange controls cost Padenga US$9 million

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CROCODILE skins exporter cum gold miner, Padenga Holdings (Padenga), says it lost US$9 million in 2021 due to the Reserve Bank of Zimbabwe’s limitations on the retention of export proceeds. During the period, the group’s export revenue from the crocodile farming division was subjected to statutory surrender requirements at 40 percent. “By the end of…

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