Dynamos' property to go under the hammer over CBZ debt.

7 years agoThu, 03 Nov 2016 09:07:48 GMT
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Dynamos' property to go under the hammer over CBZ debt.

In an embarrassing turn of events, property belonging to the club as well as to current and former club officials was attached, and will be going under the hammer conducted by LM Auctioneers in Southerton.  CBZ Bank Limited is seeking to a recover a debt of $250 000 which they are owed by Dynamos.

Club chairman Kenias Mubaiwa told the Daily News that:

We were paying at g10 000  every month to service the loan  when we assumed office.   We paid close to $200 000 but all the money was going towards the interest.  As I said before the economy is not performing well and we reached a stage where we could not pay that monthly installment hence the attachment of the property.  CBZ has records of our payment.

More: Daily News

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