By A Correspondent

Zimbabwe’s Finance Minister, Mthuli Ncube, has unveiled plans to tap into the growing sports betting market to bolster the country’s tax revenue. In a bold move aimed at addressing the nation’s financial woes, Ncube announced during his 2025 national budget presentation that he intends to impose a new tax on betting winnings.

“Honourable Members would be aware that betting is popular in nature, as indicated by the proliferation of Sports Betting Houses countrywide,” Ncube said, acknowledging the widespread popularity of betting in Zimbabwe.

He pointed out that while sports betting is thriving, the winnings of bettors currently remain outside the scope of personal income tax. “Sports Betting Punters, however, receive income from winnings, which is currently not taxable under Personal Income Tax,” he explained.

To remedy this, the Finance Minister proposed introducing a 10% withholding tax on the gross winnings of sports bettors. “To include Punters in the tax base, I propose to introduce a 10% Withholding Tax on gross winnings of Sports Betting Punters, with effect from 1 January,” Ncube announced.

The move is expected to generate much-needed revenue for the government, tapping into a lucrative sector that has seen a surge in popularity across the nation.