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Augustine Hwata Sports Reporter
ZIFA president Cuthbert Dube has appealed for patience from creditors as the association, weighed down by US$6 million debt, battles to balance its books and service its debts.
Dube said they would be soon coming up with a strategic plan that will unveil their long-term vision of dissolving their debts.
“While we note our creditors’ rights to payment for services rendered to the association, l would like to passionately appeal to all our stakeholders to bear with us as we continue with efforts to implement a debt servicing and turnaround plan to cater for all those issues,” Dube said in a statement published on the association’s official website.
“Much as it is not a secret that ZIFA has serious financial problems, with a debt of nearly US$6 million, l would also like to assure all our creditors and suppliers that my board remains committed to servicing all debts assumed under this council’s current tenure, and those inherited in March 2010.
“With this action on course, underpinned by the strategic plan to be commissioned later this month, l must also emphasise that these strategies have the buy-in of key stakeholders in football.
“Crucially, the essence of that on-going dialogue is to hammer out payment plans and stave off the execution of writs, which would have meant the removal of property at ZIFA House and Village.
“While we are happy to announce that the process has been encouraging and very progressive, some creditors have committed to writing off or discounting a portion of their debts with Zifa.
“On debtors, l would like also to inform you that ZIFA is owed in excess of US$300 000 by some affiliates and institutions, whom we are pursuing under an aggressive debt-recovery plan or process.”
LED Travel and Tours, a company owned by ZIFA board member Bernard Gwarada, were targeted by the Deputy Sheriff on Wednesday who wanted to attach vehicles over US$32 000 debt that the company failed to settle on behalf of Zifa.
ZIFA asked LED to purchase tickets worth US$53 000 for the Warriors trip to Egypt for the World Cup qualifier last year, through a transaction from FBC Bank, and a part repayment of US$ 30 000 was made.
The cash-strapped football association were supposed to repay the full amount.
A statement from LED general manger, Shelter Hamandishe, said they were disappointed that they were now bearing the brunt on behalf of ZIFA.
“We wish to confirm that Messenger of Court have just arrived at our office, intending to attach our property and assets over a debt that ZIFA owes to FBC Bank.
“This transaction was made to acquire air tickets for the game against Egypt last year.
“FBC Bank agreed to finance the transaction through LED Travel and Tours but guaranteed by Tshinga Dube’s property as security. The bank did not want to deal directly with ZIFA.
“Other guarantors were Marah Hativagone, Zimbabwe Football Trust vice chairperson and Patience Khumalo of Mbada Diamonds.
“We provided the tickets out of our benevolence, our managing director, the current Zifa board member, is a true patriot who would like to see the game progress. Now we are the ones bearing the brunt.
“Zifa decided not to service the loan, ignoring the Deed of Settlement that was signed on May 14, 2014,” said Hamandishe. On Wednesday, LED paid US$3 500 to save their property.
It also emerged that BancABC are also owed more than US$35 000 by LED, in a similar transaction involving ZIFA.
Last week, former ZIFA communications manager Nicky Dhlamini attached property at ZIFA Village and 53 Livingstone Avenue in a labour case in which she is seeking US$88 000.
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