Piko Trading Group

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Piko Trading Group is a diversified company with interests in gas and solar and was owned by the late Zimbabwean businessman and socialite Genius Kadungure. The group has interests in Zimbabwe, Botswana and South Africa.[1]

Background

The collection of companies in the group include Quick Gases in Botswana, Pioneer Gases in Zimbabwe, Rivonia Gases and City Centre Freight.[2]

Court Cases

Piko Trading, was found guilty by a Harare magistrates on two counts of tax evasion involving nearly $3 million. Piko Trading, which supplies gas, was charged with two counts of tax evasion and smuggling. Kadungure, representing his company, admitted to failing to pay VAT between February 2009 and May 2016, prejudicing Zimbabwe Revenue Authority (ZIMRA) of $2 512 149. The company also admitted to failing to declare company tax leaving Zimra $355 559 short. This was after Piko Trading had pocketed $24 187 026.

According to the penalty provisions, Piko Trading is likely to be ordered to pay the shortfall in taxes plus a fine equivalent to the shortfall, plus interest. Piko Trading, however, denied smuggling 5 289kg of gas into the country while Kadungure also denied failing to declare income between 2010 and 2015 that would have resulted in extra income tax of $119 860. The State led by Mr Andrew Kumire alleged that Piko Trading between January 2015 and March 2016 smuggled about 5 289kg of liquefied petroleum gas into the country, and so di not pay $672 533 in taxes..[3]

Quick Gases Trading Update

On 15 January 2021, the Botswana Energy Regulatory Authority (BERA) informed members of the public that Quick Gases (Pty) Ltd ceased trading in Liquefied Petroleum Gas (LPG) pending the outcome of court processes relating to a matter of deceased estate. BERA advised members of the public who had empty cylinders belonging to Quick Gases to exchange them at the Quick Gases facility in Pilane. In collaboration with local gas companies, the Regulator ensured that customers who held Quick Gases cylinders were not affected by the non-trading of Quick Gases. The Regulator also assured the public that gas continues to be readily available in the market.[4]

https://www.pindula.co.zw/images/b/bb/Draft_Quick_Gases_Update.pdf

References

  1. Mtandazo Dube, [1], The Sunday Mail, Published: 24 January, 2016, Accessed: 24 August, 2020
  2. Vincent Masikati, [2], iHarare, Published: 15 January, 2016, Accessed: 24 August, 2020
  3. Nyore Madzianike, [3], The Herald, Published: 10 June, 2020, Accessed: 24 August, 2020
  4. [4], Duma FM, Published: 15 January, 2021, Accessed: 15 March, 2021