Former Finance Minister Set To Lose Late Brother’s Property Over $366 000 Debt

Former Finance deputy minister David Chapfika is set to lose his late brother’s up-market Harare property which he had used as collateral security to secure a $366 014 loan from Cabs Bank in 2011.

Cabs obtained a default judgment following the Chapfika’s failure to service the debt. Cabs recoveries manager Collins Chikukwa, filed a court application seeking a default judgment against Chapfika and his wife Abina together with their company Racewin Trading (Pvt) Ltd saying the family had breached the terms and conditions of the loan and above all they had failed to defend the litigation.

More: NewsDay


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