Dynamos Football Club is in a deep financial hole as it has accumulated debts amounting to over $247 505. A local financial institution, CBZ, has filed court papers in its bid to recover the loan from seven years ago.
CBZ Bank’s head of recoveries Gift Chinyamutangira said in his affidavit:
This is an application for an order that any money at present due or becoming due in the future to the judgment debtor (Dynamos) by the garnishee namely Steward Bank (Pvt) Ltd, African Banking Corporation of Zimbabwe Limited trading as BancABC, NetOne (Pvt) Ltd, and Nyaradzo Life Assurance Company or any other third party within the jurisdiction of this honourable court, be attached in terms of Order 42, Rule 337 of the High Court, 1971.
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BancABC is a financial institution in Zimbabwe wholly owned by Atlas Mara Limited. The bank was initially founded in 1956 as First Merchant Bank of Zimbabwe (“FMBZ”) was by Anglo American Corporation Zimbabwe Limited. However BancABC itself was created in 2000. ABC Holdings Limited is... Read More About BancABC
Dynamos Football Club is a Zimbabwean based professional football club which plays in the Zimbabwe Premier Soccer League. It is arguably the most decorated football club in Zimbabwe. The club has won several accolades locally, and has performed at various international tournaments and commands a... Read More About Dynamos Football Club