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Zimbabwe Sheriff Office Attaches More RBZ Property to Settle US$2.1M Debt

  • Gibbs Dube

Attorney Davison Kanokanga, representing Farmtech Spares and Implements, said that although the sheriff has attached numerous RBZ assets, more are likely to be attached to cover the US$2.1 million debt

The Zimbabwean Sheriff's Office has attached more property of the Reserve Bank of Zimbabwe, including 52 vehicles - and a number of refrigerators - to settle a US$2.1 million debt incurred buying tractors.

Attorney Davison Kanokanga, representing Farmtech Spares and Implements, said the Sheriff's Office also attached three tanker trucks owned by the RBZ.

Kanokanga told VOA Studio 7 reporter Gibbs Dube that while the sheriff has attached numerous RBZ assets including household goods such as refrigerators, more assets must be attached to cover the debt.

Other RBZ property attached since January includes real estate in Harare, the Manicaland capital of Mutare and the north-eastern resort town of Kariba.

The central bank ordered 150 tractors from Farmtech under the Farm Mechanization and Agricultural Support Enhancement Facility, a government program intended to boost agricultural program, and received 60 machines worth US$2.1 million.

The remaining 90 were to be delivered once the bank paid for the first consignment. Farmtech obtained an order from the High Court to seize RBZ property after the central bank failed complete payment.

Political commentator Brilliant Mhlanga, meanwhile, said Reserve Bank reform legislation passed Tuesday by the Senate should boost investor confidence.

“The passing of the bill should be seen as a positive development for Zimbabwe which desperately needs foreign direct investment,” said Mhlanga.

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