CBZ Bank has taken MDC president Welshman Ncube to court seeking an order compelling him to settle a $100 000 loan advanced to him in January 2010.
CBZ issued summons against Ncube on May 22, 2018 through its lawyers Costa and Madzonga Legal Practitioners and Ncube is yet to file his response.
In its declaration CBZ said in terms of a written agreement concluded between the parties, it loaned and advanced $50 000 to Ncube, but despite his continued acknowledgement of the debt, “he has failed to repay the cash together with interest.” Ncube and CBZ agreed that the loan would attract an interest of 8% per annum and would be calculated on the daily balance and compounded on a monthly basis. As a result CBZ is demanding a payment amounting to $100 222.
More: NewsDay
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