US$85 000 loan haunts Dr Shingi Munyeza

MORE details of the US$85 000 loan transaction, which is now haunting businessman Shingi Munyeza, have emerged.

Munyeza has been failing to settle the debt, where he needs to pay US$100 000, since January.

The documents show that Munyeza personally signed for the loan.

“Have received US$85 000 as a loan from Marjorie Fadzizo Mutemererwa through Stanbic Bank, Botswana.

“I will pay back into Marjorie Fadziso Mutemererwa’s account (the amount of) of US$100 000 on January 31 2023.

“The payback is with interest of US$15 000.”

Munyeza and his wife Wilmar received the money from Marjorie Mutemererwa earlier this year and promised to repay the amount, including interest, by January 31.

However, the couple breached the agreement and failed to meet the repayment deadline twice prompting Mutemererwa to lodge a High Court action.

The couple acknowledged the debt on January 22 and February 27 but nothing has been paid back to date.

The money was supposed to be repaid through a deposit into Mutemererwa’s Botswana Stanbic account but nothing has been repaid to date.

“The amount claimed by the Mutemererwa has become due and payable to her because the Munyezas failed to settle the disbursed and acknowledged amount of US$85 000 plus the acknowledged interest of USS15 000 to give a total of US$100 000.

“Mutemererwa has made several demands met, with several promises to pay by the Munyezas, which promises have not materialised to the date of this summons.

“We are under instructions to demand from yourselves, as we hereby do, payment of the outstanding loan repayment of US$100 000.”

Mutemererwa’s lawyers are seeking legal costs on a higher scale in order to recoup her loss.

hmetro