Ex-ZANU PF Youth Leader Risks Losing Property Over Debt

The bank has approached the court seeking to recover its money. It said:

In December 2012, at Harare, the plaintiff (Agribank) and defendant (Chipanga) entered into an agreement in terms of which the plaintiff granted a loan of US$30,000 to the defendant under the Maize Facility Scheme and was supposed to be fully paid on or before October 31, 2013.

The defendant failed or neglected to pay the amount owing as per the due dates for repayment in the respective loan facility agreement. Defendant tendered property as security for US$42,000 over movable property. Property belongs to the defendant; plaintiff prays that the property be specially executable.

The matter is still pending.

Chipanga is one of the ZANU PF big wigs who fell by the way following the demise of former president Robert Mugabe in 2017.

More: iHarare


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