High Court Orders ZIFA To Pay US$1.2M Debt
4 years agoThu, 03 Oct 2019 16:20:22 GMT
The High Court has ordered the Zimbabwe Football Association to pay US$1.2 million debt to the Postal and Telecommunications Regulatory Authority of Zimbabwe.
ZIFA was given US$225 000 for the 2017 Africa Cup of Nations (AFCON) qualifying match and US$1 million to send the senior men football team, the Warriors, to the tournament that was hosted by Gabon.
The football governing board was supposed to pay the capital sum in 24 instalments of not less than US$46 666 starting on or before February 28, 2017.
ZIFA has been failing to pay back the loan since then and POTRAZ wants the association to pay all the money including the interest which is at 5% per anum.
More: The Chronicle
