Mubaiwa defends DeMbare

HARARE - Dynamos president Kenni Mubaiwa has slammed the club’s previous executive for failing to offset a $250 000 debt with CBZ Bank Limited.

Property belonging to the club, board chairperson Marriot-Lusengo and former executives Farai Munetsi, Ignatius Michael George, Harrison Mbewe and John Kanokanga was recently attached in connection with the debt.

“At the moment, what I would want to know is what that previous executive did with the money that came from Caf after Dynamos reached the semi-finals,” Mubaiwa told the Daily News yesterday.

“Look, when they borrowed the money from CBZ, the agreement was that they would pay back once the funds from Caf had been made available.

“The money from Caf came but they never bothered to pay back the loan. They are the signatories to the application hence why their property was also attached.

“None of my property was attached because I successfully approached the bank and argued that my name was nowhere near the application since I was not at Dynamos at the time.

“It’s only that the Sherriff of the High Court made a mistake and included my name on the notice they published in the press.”

Mubaiwa claims that when he came to the helm, they inherited the debt and did their best to pay it back.

“I was never part of the executive when the loan was accessed but when I joined the club we tried to pay back,” the Harare businessman said.

“Most of it went towards the loan’s interest and right now with the way the economy is like, we could no longer make any more payments.

“It is unfair for people to blame my executive because we tried our best to deal with this debt.”

Mubaiwa was responding to Dynamos legend Ernest Kamba, who told the Daily News on Wednesday that the current executive had slept on duty without doing anything to settle the debt.

“We are no longer going to sit back and watch the unfolding Mickey-mouse drama at the club and hope that some Holy Spirit will come down and save the situation,” Kamba said.

“No. There is the frightening possibility of a precedent being set here, where more debtors will descend on the club demanding what is theirs and we end up with the club going under the hammer. That should not happen because this is our legacy.”

DeMbare borrowed money from the bank to cater for their away trip to face MC Algiers in Algeria for an African Champions League qualifier back in 2011.

In 2012, DeMbare failed to pay back the loan resulting in CBZ approaching the High Court where they were granted a writ of execution to attach the club’s property and that of board and former executive members, who facilitated the loan.

Since then, the club had been fighting against the suit but Justice Godfrey Chidyausiku early last month upheld the ruling allowing CBZ to effect the writ.


Comments (1)

its good,its a sign that the chickens are slowly coming home to roast,it would have been good if the deputy sherrif would attach the wives and children of the affected individuals because they abused prize money from CAF,its a lesson to all those greedy would be executive members of the next generation

GLAMOURBOY - 16 November 2016

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