adminRaymond Jaravaza
WINNERS of the 2016 LM Auctioneers International Cup a�� that was played in December last year in Bulawayo a�� have finally received their prize money from the tournament sponsors.
Black Rhinos Queens beat Botswana side Township Rollers 4-0 at Hartsfield Rugby Ground but there have been delays in paying the winners and losing finalists, which LM Auctioneers said required authorisation by the Reserve Bank of Zimbabwe to pay the foreign team.
a�?Township Rollersa�� payment was complicated since such transfers require authorisation by the Reserve Bank of Zimbabwe. After the payment was finally authorised I drove to Plumtree border last week to make good of the payment to Township Rollers, which also scooped the Individual Player of the Tournament.
a�?The delay in disbursement was due to monetary restrictions and the liquidity crunch in the country which meant transfers were complicated. We were also settling tax compliances with Zimra and that delayed the disbursement of money to the clubs,a�? said tournament sponsor LM Auctioneersa�� Lewis Muzhara.
The total sponsorship package for the tourney was $20 000, with some of the funds used to cater for accommodation and meals for the six participating teams.
Black Rhinos Queensa�� Panganai Mahachi confirmed receiving part payment of their prize money last week and said they are expecting the balance including individual awards by Friday.
An official from Township Rollers Priscilla Mollo also confirmed the club finally received their money for coming second.
a�?We were not really worried about the late payment because the sponsor of the tournament explained to us that it would take time for the Zimbabwean bank to authorise the transfer,a�? said Mollo.
Online Reporter