A multi-million South African business venture is haunting a Harare businessman as it is threatening his prospective business projects locally amid revelations that his erstwhile partners are vying for a share of the money he made in South Africa.
Danny Mavhura Huruyadzo, who is into land development, has
been forced to put on hold local projects as a result of the prying by a South
African company — Cashfields (Pvt) Ltd.
Cashfields (Pvt) Limited had a long- standing multi-million
business partnership with Huruyadzo’s Hibernic Energy in South Africa until
Huruyadzo decided to come back to Zimbabwe to embark on new business ventures.
However, Huruyadzo claims his erstwhile partners have been
giving him sleepless nights since the time he moved to Zimbabwe over his money
in a South African bank.
Cashfields (Pvt) Ltd represented by its managing director
Herbert Woods has gone a gear up in pursuit of Huruyadzo’s money after they
approached the High Court in Zimbabwe demanding the freezing of US$150 million
in Hibernic Energy’s South African account.
Woods claims that in the course of the parties’ mutual
business relationship, Huruyadzo accrued huge bank balances totalling US$155
million.
“The sum of US$5 million was transferred to the applicant’s
(Woods) Standard Chartered Bank account in South Africa as disbursement in an
alleged full and final settlement of an outstanding transaction,” reads Woods’
founding affidavit filed at the High Court of Zimbabwe.
“Applicant has incessantly been demanding the freezing of
the balance of US$150 million held in the respondent’s bank account pending a
further payment to itself in the amount of US$1,5 million.”
However, Huruyadzo has since responded to Woods’ claims,
arguing that the money in the South African bank was his and that after the
termination of the mutual agreement, Woods was given his monetary share of US$5
million.
“The respondent is the owner of the said US$150 million.
“He had no intention to disburse the money he owns and the
applicant is not the owner of the said amount,” said Huruyadzo in his opposing
affidavit.
“If he is the owner, he should show proof of ownership to
the money.
“The respondent had the right to use the money in the
manner he so wishes.”
Huruyadzo said the claims by Woods were defamatory, which
could trigger another court case against him in terms of laws in Zimbabwe.
The local businessman wants Woods’ application to be
dismissed with costs.
Meanwhile, Huruyadzo
said the legal dispute is derailing some of his projects which he is pursuing
locally.
He said a fleet of cars he bought from a South African
company last year is yet to be delivered in Zimbabwe, something that is eating
him up.
“I have a number of infrastructural development projects
that I am doing here in Zimbabwe, but this South African deal is disturbing
everything,” Huruyadzo said. Standard
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