HONOURABLE CORBAN MADZIVANYIKA DIARIES: MP probes airtime levy, sugar tax revenue
By Norman Mwale, The PenPusher
Mbizo MP Corban Madzivanyika continues to probe real issues affecting the majority in parliament.
In a question and answer session in parliament on 25 March 2026, the opposition MP asked the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube to update the house on revenue collections from the Special Excise Duty on Airtime and Sugar Content Tax on beverages, as well as the government’s policy on pension fund deregulation.
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Madzivanyika: Can the Minister update the House on the total revenue collections for 2024 and 2025 from the Special Excise Duty on Airtime and Sugar Content Tax on beverages?
Minister Ncube: In 2024, we collected $114,857,827 from the Special Excise Duty on Airtime and $29,169,209 from the Sugar Content Tax on beverages, totalling $144,027,036. For 2025, the figures are $132,390,188 and $59,416,884, respectively, totalling $191,807,072. Notably, 50% of the airtime levy is allocated to the Health Fund, which translates to $57,428,911 in 2024 and $66,195,094 in 2025.
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Madzivanyika: Concerning the Sugar Content Tax on beverages, how much was allocated to the Ministry of Health for acquiring cancer equipment, and what tangible results have been achieved?
Minister Ncube: The funds are being utilised for cancer treatment and equipment. Progress has been made, and the Ministry of Health is set to install new machines at Parirenyatwa and Mpilo Hospitals, with the older machines being redeployed to other facilities.
Madzivanyika: What is the government’s policy on adjusting the interbank policy rate to maintain single-digit inflation?
Minister Ncube: The Reserve Bank of Zimbabwe hiked the bank rate to 35% and reserve requirements to 30% to curb excess liquidity and anchor inflation expectations. With inflation currently at 4.1%, the Monetary Policy Committee is exercising caution to avoid premature loosening of monetary policy, which could reignite inflationary pressures. This measured approach is intended to support economic growth while safeguarding price stability.
Madzivanyika: What is the government’s policy on the deregulation of pension funds, particularly regarding prescriptive asset thresholds and investment of pensioners’ contributions?*
Minister Ncube: The regulatory framework for private occupational pension funds is in place, with investment regulations guided by the Pensions and Provident Funds Act.
