At least 200 families in Chitungwiza are on the verge of losing their houses to a local bank after a Zanu PF land baron Fredrick Mabamba failed to service a land development loan he secured from the bank.
According to officials from NMB bank, Mabamba who is the former Zanu PF Chitungwiza Ward 25 Councillor borrowed hundreds of thousands of dollars for land development.
Mabamba is also on $2000 bail on allegations of selling nearly 4000 stands worth $8 million on land belonging to Chitungwiza Municipality.
Some of the land Mabamba sold was reserved for cemeteries, open spaces, schools, wetlands and road buffers.
The officials who refused to be named said the Mabamba had given as surety some 200 stands for the loan which he is now failing to service.
ZimEye.com talked to some of the people who are set to lose their houses.
“We are confused to hear that NMB is the owner of the land which we bought from Mabamba,” said one elderly woman.
“ We have been paying rates to the council on the pretext that they are the owners of the land but now we are told that there is a bank which wants to take our houses,”said another affected house owner.
Efforts by ZimEye.com to get a comment from Mabamba were fruitless as his phone was not reachable.
6 Replies to “Zanu PF Land Baron Fails To Re-Pay Bank Loan”
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show biz triaple tiara why do you what to triaple tiara we dont all this chaprter of triaple tiara
show biz triaple tiara why do you what to triaple tiara we dont all this chaprter of triaple tiara
daddy i love you chimbondiregeraiwo child mauled to dearth by 8 dog but mem the point is the song of white people yekuti versus muafrican haiti they hate my classic way of trade they come in african time out their game of missinalies in african God say no blood on top of christ african vapostory churchdas not take your spirit to heaven but apostory shortest way vaudzeyi kuti tine vapostory handina wandinovenga pamarudzi ese akasikwa naMWARI DADDY DONT WHEN TIME COME WIL MEET WHITE PAVAKAISA IMBA YAVO HAPAITE
daddy i love you chimbondiregeraiwo child mauled to dearth by 8 dog but mem the point is the song of white people yekuti versus muafrican haiti they hate my classic way of trade they come in african time out their game of missinalies in african God say no blood on top of christ african vapostory churchdas not take your spirit to heaven but apostory shortest way vaudzeyi kuti tine vapostory handina wandinovenga pamarudzi ese akasikwa naMWARI DADDY DONT WHEN TIME COME WIL MEET WHITE PAVAKAISA IMBA YAVO HAPAITE
Why would a bank give a loan to a man who does not have deeds to the land. Go to banks they ask you to prove you own the land yet these guys just walk in and come out with thousands of dollars they don’t pay back putting depositors’ money at risk.
Why would a bank give a loan to a man who does not have deeds to the land. Go to banks they ask you to prove you own the land yet these guys just walk in and come out with thousands of dollars they don’t pay back putting depositors’ money at risk.