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Fredrick Mabamba

Fidelis Munyoro Chief Court Reporter
The High Court has described Chitungwiza land baron Dr Fraderick Mabamba as a pathological liar in a case he was being sued for refusing to settle a $150 000 debt with a local bank.

Dr Mabamba dismally failed to defend the claim brought against his private school by NMB Bank Limited before Justice Owen Tagu.

Dr Mabamba was granted a loan for his private school Fraderick Mabamba High School in Chitungwiza.

He failed to settle the debt at an interest rate of 36 percent per annum.

The other charges levied on the loan were a 1.5 percent acceptance fee and 3 percent draw down fee.

In the event that Dr Mabamba through his company, Saywood Enterprises, failed to pay the due amounts on the agreed date, the bank was entitled to levy interest at 60 percent calculated on daily excess balances and payable monthly in arrears.

He failed to pay back the loan.

NMB Bank then approached the High Court seeking to recover its money.

The bank cited Saywood Enterprises, Fraderick Mabamba High School, Mooregrove Investments (Private) Ltd, Siduduzile Masuku and Trinity Munowenyu, as respondents.

Justice Tagu granted NMB Bank the relief it sought after a fiercely contested civil trial and attacked Dr Mabamba’s character.

“In the result I make the following order . . . judgment be and is hereby awarded in favour of plaintiff against . . . defendants jointly and severally, the one paying the others to be absolved for $76 521,28 with interest thereon at the rate of 36 percent per annum compounded monthly and in advance commencing from August 1 2013 to date of payment in full,” said Justice Tagu.

The judge said the piece of land on which the school was built measuring 10 8219 hectares registered under Deed of Transfer No. 5768/2006 was executable.

In his judgment, Justice Tagu was not impressed by Dr Mabamba’s conduct.

“Mr Mabamba failed to win the court’s confidence,” he said. “He was not a truthful witness. For example, he lied that he was appearing in court for the first time yet he knew he appeared earlier in the case of Chitungwiza Municipality v United We Stand Cooperative And Fradreck Mabamba HH-3-14.”

Justice Tagu also noted that Dr Mabamba was quick to push the blame on others when things went wrong.

This is not the first time Dr Mabamba was berated by the court.

In 2014 Bulawayo-based judge Justice Nicholas Mathonsi blasted Dr Mabamba in the Chitungwiza Municipality case for lying when “faced with litigation”.

A trend is fast developing among business people to borrow huge sums of money from financial institutions.

They deliberately renege on repayments.

They stop at nothing in avoiding to pay legitimate claims.