Despite various economic/business reviews stating that the 2019/20 financial year was slow due to pre/post election tension and other factors, the Malawi Revenue Authority has announced that it has targeted to collected K1.3 trillion.

The above was revealed during the International Customs day celebrations in Blantyre, by MRA Board Chairperson, Rex Harawa, as MRA Head of Corporate Affairs, Steve Kapoloma emphasized that the target will be reached because strategies have been put in place.

According to Kapoloma, meeting this target means growth and sustainability to the livelihood of the citizens. “…as MRA we are not looking at meeting the target as such; we are looking at the impact this revenue will have on the ordinary citizens.”

Still the business environment in 2019 was not conducive for profits, as firms suffered from protests that saw property damaged and stolen, not to mention the policy rate that twice saw a downward review, which crippled some of the commercial banks which posted losses.