'Suitcase agents' force down rates

Clearing agents whose offices consist of little more than a laptop and data card are forcing down rates and at the same time harming the image of the sector, according to the larger companies in the Zimbabwean industry. According to the Zimbabwe Revenue Authority (Zimra), clearing agents and any staff need to meet a number of financial requirements which prove that the company and its management are solvent and in good standing with the revenue authorities. The list of preconditions does not, however, include qualifications – formal or otherwise. Once an application has been approved, the agent needs to lodge a bond of US$15 000. Where the clearing agent intends to engage in removal in bond or transit, the minimum bond limit is US$250 000.00. A licence then costs US$100.