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ZACC updates the nation on Prisca Mupfumira court case

by Mandla Ndlovu
10 Jun 2020 at 12:48hrs | Views
The Zimbabwe Anti-Corruption Commission says the court matter involving former Minister Prisca Mupfumira  has been set down for trial on 19 June 2020.

In a statement on Wednesday, ZACC said, "The Defense Counsel has been making one application after the other and this has delayed the trial from taking off. Our docket is complete and State is ready."

In December last year, Mupfumira indicated that she was mentally ill and unfit to stand trial.

Mupfumira's lawyer Charles Chinyama told the Deputy Chief magistrate Chrispen Mberewere that she was mentally ill and had been instructed by a renowned psychiatrist to take any trial or court proceedings after a maximum of three months.

The State alleged that sometime in 2013 Metbank defaulted in payment of US$25, 3 million investment loan maturity to NSSA that was secured with properties worth around US$32 million.

NSSA then took over Metbank properties they held as surety to a value of US$25, 3 million on a purchase/sale agreement as a result NSSA remained holding onto Metbank properties worth around US$7 million after sealing the US$25.3 million investment loan.

As a result of the default, NSSA classified Metbak as a high risk client that was not worth trading with and in December 2014 Mupfumira was appointed minister of Public Service and on December 15, five days after her appointment she held a meeting with Metbank officials Ozias

Bvute, Enoch Kamushinda and Belmont Ndebele at the ministry offices where no minutes were recorded.

On December 16, 2014 Mupfumira and Masoka held another meeting with then Nssa general manager James Matiza and the Metbank officials at the ministry offices.

Mupfumira instructed Nssa to financially bail out Metbank to the tune of US$15 million as it was facing liquidity challenges.

Nssa declined the proposal since Metbank had previously defaulted in a US$25, 3 million loan advance. Mupfumira disregarded all that and went to give James Matiza instruction to seriously consider.

Metbank's loan request and process a loan of US$15million to settle the bank's US$5 million depositors credit and US$10 million for use in housing projects and bring feedback the following day.

However, no minutes on the meeting were recorded.

Nssa resolved to decline the US$15 million loan request after considering Metbank's risk status however Mupfumira and Masoka forced Nssa to purchase Metbank properties worth US$4 908 050 that they had not intended to purchase.

Source - Byo24News