High Court to hear prominent businessman’s bond notes challenge today

The High Court will today hear the bond notes challenge by prominent businessman, Frederick Mutanda who filed his heads of argument yesterday.

In his application to the High Court, Mutanda argues that the move by the Reserve Bank of Zimbabwe (RBZ) was unconstitutional and an infringement of his rights. He also responded to Finance Minister, Patrick Chinamasa and RBZ governor, Dr John Mangudya who had argued that he was not properly before the court and, as such, his application ought to be dismissed. He argued that the introduction of the bond notes would impact negatively on his customers.

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