Taxes –Millionaire Businessman Zedekiah Bundotich aka Buzeki has announced downsizing of his business empire, from today.
In an update he posted on his official business wall, the millionaire noted that the 16 percent VAT passed by Parliament was too high for a business like his and, therefor,e the only alternative was to reduce operations and employees from his logistics company based in Mombasa.
He made this announcement on Thursday June 22 just hours after the Parliament moved the VAT from 8 percent to 16 Percent.
“Due to the rise in VAT on fuel from 8% to 16%, we are now officially DOWNSIZING with immediate effect. The current administration seems to lack a plan for job creation and is SOLELY focused on collecting revenue for EXPENDITURE. All OLD trucks, including those with Euro 3 and below, will be sent to the scrap yard,” he announced.
The businessman was also the owner of Molo Milk which he later sold to Kenyatta family and rumour has it that Buzeki Enterprises Limited in Mombasa was recently auctioned due to debts.
Bundotich has unsuccessfully vied for Uasin Gishu gubernatorial position twice and, in many cases, he is always running as an independent candidate following his fallout with William Ruto.
According to Citizen Tv, Buzeki’s multimillion business in Mombasa owes debtors a whopping sh 118 million
And due to this, court recently allowed Landmark Port Conveyors Limited to sell part of his assets to recover the amount.
So far, Buzeki Enterprises has since settled part of the amount.
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