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State could take over $7 million Zifa debt

by Staff Reporter
29 Jun 2016 at 06:46hrs | Views
THE government is mulling taking over the $7 million Zifa debt in the "national interest" since football has a massive following in the country. However, the government is also aware that Zifa's existence is now in the hands of the court following an application by the Philip Chiyangwa administration for voluntary liquidation.

The application will be heard in the High Court in Harare today.

"The issue of taking over the Zifa debt is something which has been actively on the table. It's obviously informed by many things; the whole question of national interest through football. I can assure you that it's a decision that we've already taken as a ministry that we probably need to escalate and heighten the discussion to a level where we reach certain key stakeholders," said Sport and Recreation Minister Makhosini Hlongwane.

"You must understand Zifa has already approached the High Court seeking liquidation and sequestration and so even if you assume the debt, assuming that the High Court grants the order for final liquidation, you still don't have Zifa. So it's a legal minefield, but it's a matter that is actively on the table," he said.

Zifa's major creditors are CBZ Bank ($1,795,000); Pandhari Lodge ($268,436); Vogel Weber ($21,000); Zifa Ad Hoc Committee ($600,000); Buymore Investments (owned by former Zifa boss Cuthbert Dube $438, 222); Led Travel and Tours ($244,527).

Other creditors include BancABC, Henrietta Rushwaya, Horst Webber, Tendai Hangazha, Sunday Chidzambwa, Norman Mapeza, African Sun, Rainbow Tourism, Eastown Commodities, Selous Hotel, Rahman Gumbo, Lazarus Mhurushomana, Negoma Transport, Shariff Musa, Cosafa, Viking Security, Joel Travel, Nelson Matongorere, City of Harare and TelOne.

Traverse are also owed, the same for Jackson Muguti, Danny Chiku, Jameson Hotel, Zimra, ZRP Mbare, Nicoz Diamond, Jongwe Printers, One Turn Mining, Zwane Tickets, Mali Football Association, Fifa, Kenny Marange, Zesa, Blossom Events, Frey Tag Projects, Irjana Luxliner, Sports and Recreation Commission, Betta Ball Sports, Logistica Shipping, Legacy, Palm Lodge, Cresta Oasis Hotel, New Ambassador Hotel, Caf, Trickmut Computers and Execu Sport.

Source - Chronicle

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