The Reserve Bank of Zimbabwe (RBZ) has filed a High Court application denying a debt worth over $92 million allegedly owed to RioZim.
This comes after RioZim sued the central bank for breaching provision of the exchange control directives whereby the mining company is supposed to be given access to utilise the foreign currency it generated externally. RioZim alleges it only received $26 130 967 of the $84 297 364 in hard foreign currency, This constituted 15 percent of the amount due since 2016.
Representing the central bank and Fidelity Printers, lawyers Gerald Mlotshwa and Wellington Magaya respectively, have denied the debt saying all payments were made by bank transfer in USD.
More: Daily News
Gerald Mlotshwa is a Zimbabwean Lawyer, entrepreneur and founder of Titan Law. He has interests in the financial services industry and the media sector. Mlotshwa is the son-in-law of President Emmerson Mnangagwa Read More About Gerald Mlotshwa
The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About RBZ