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Hippo Valley affected by ‘unfavourable’ fiscal changes

SUGAR producer Hippo Valley Estates Limited (Hippo Valley)’s business performance for the year ended March 31, 2024 was adversely affected by the government’s suspension of import duty and value added tax (VAT) changes on sugar. Government through Statutory Instrument (SI) 80 of 2023 suspended duty on imported basic commodities, including sugar which resulted in flooding…

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