Online Reporter
Anotida Chonzi
Herald Reporter
ZIMNAT Financial Services has taken Micheal Matambo to court after he defaulted on paying back US$3 055 he owed the
financial institution.
Matambo appeared before Harare Civil Court Magistrate Ashton Dube. Zimnat Financial Services’ representative said the
company wishes for the debt to be settled by October 30.
However, Matambo told the court that he could not pay the full amount by the date proposed by the financial institution.
“I can only pay US$45 per month until I finish paying the total amount. My stock was stolen and my car broke down in Chiredzi,
where it is still being fixed,” he said.
Matambo said the car was collateral and he had suffered a major setback after it broke down.
He asked the court to give him more time so he could get his business back on track and also have his car fixed.
“I get my income from my supermarket, and I use my car for transportation, so my business hasn’t gotten back on track because
I need my car to carry goods,” Matambo said.
After hearing both sides, Magistrate Dube ordered Matambo to pay US$500 per month starting from October 30 until the debt
is fully paid, and failure to do so will result in his arrest.
