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Chiyangwa's Sons In Court Over Debt

4 years agoWed, 20 Nov 2019 23:09:35 GMT
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Chiyangwa's Sons In Court Over Debt

COSAFA president and businessman Philip Chiyangwa’s two sons, Edmund and Brian, have been dragged to court over failure to settle a debt from Getbucks Microfinance Bank Limited.

Getbucks claims that on February 26, 2019, they extended $600 000 to World Grain (Pvt) Limited, owned by the duo, which failed to pay back the loan and interest on the due dates, resulting in arrears of $846 041.52 accruing as of November 7, 2019.

The financial institution is now demanding an order for the payment of $846 041.52 together with interest at the rate of 87% from November 8 to the date of full and final payment.

The duo risks losing its Grange property which they registered as surety for the loan.

More: The Herald

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