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Zimbabwe Threatens To Attach South African Airways Assets

5 months agoTue, 22 Oct 2024 12:07:20 GMT
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Zimbabwe Threatens To Attach South African Airways Assets

Zimbabwe’s Ministry of Environment, Climate and Wildlife plans to attach South African Airways (SAA) assets for allegedly owing US$2.4 million in unpaid fees, despite the Zimbabwean government owing the airline $59 million in blocked funds, reported BusinessDay.

According to the report, about US$62 million in revenue earned by SAA in Zimbabwe has been blocked since 2016 due to foreign exchange repatriation challenges.

SAA has been negotiating with the Reserve Bank of Zimbabwe (RBZ) and its finance and economic development department to unblock the funds.

SAA claims it has already paid US$877,435 towards the debt but Zimbabwe’s environment ministry proceeded with legal action and obtained a court order for US$1.6 million.

The ministry obtained a writ of execution against SAA’s property in Zimbabwe on October 8, 2024.

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According to SAA, this is despite a senior Zimbabwe official having agreed in a phone conversation with CEO John Lamola to an offset approach.

The South African airliner views the ministry’s actions as malicious and disruptive, proposing that the debt be offset against the blocked funds. Said Lamola:

The conduct of the Ministry of Environment in Zimbabwe is contrary to the letter and spirit of our protracted engagements, first with the Reserve Bank of Zimbabwe and later with the Ministry of Finance, on collecting the major debt of around R1bn due to SAA.

Our doors of engagement remain open. We are optimistic that an amicable solution to the current impasse will be found, and that Zimbabwe’s Ministry of Environment will desist from its threatened action against SAA’s operations in Zimbabwe.

More: Pindula News

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13 Comments

Anonymous · 5 months ago
Sceli mali yethu bafethu okwenu okokuthi 56 mill wara wara kasikungeni thina snikeni inyuku laapha
Anonymous · 5 months ago
Ko makatisupporter wani pama election ripei mari yeedu kkk free and fair chaizvo
👁️ · 5 months ago
Pay big and earlier debts first. Our government is such a disgrace to its level headed citizens. The math is very simple. Zimbabwe owes SAA US$56.6 before interest. Unfortunately, Zimbabwe does not have assets worth that much in RSA or anywhere beyond its borders.
Anonymous · 5 months ago
Zim does not own SA but the money was blocked due to sanctions imposed on Zim the there but blocked
Ding Dong · 5 months ago
tangai kuvapa yavo ka
1
I · 5 months ago
kusasvoda kwacho kkkk Zimbabwe inoto hwisa vurombo chaiho ummm
Abeshto · 5 months ago
puhwai mari yedu
Anonymous · 5 months ago
Mazorovana
nice · 5 months ago
kkkkk joke of the day
Helter Skelter · 5 months ago
You can say that again.

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