Mutare-based Hollands Estate Agents and Auctioneers is due to auction properties, including vast tracts of land owned by Bulawayo businesspeople, over outstanding debts to various banks and the Bulawayo City Council (BCC).
by NQOBILE BHEBHE
The estate agent has already flighted an advert in the local press indicating that about 20 pieces of land and houses would go under the hammer on December 11.
Trust Bank Corporation Limited, African Banking Corporation of Zimbabwe, Allied Bank, Stanbic Bank of Zimbabwe, Interfin Banking Corporation, CBZ Bank, Agribank, Untu Micro Finance, Zansi Finance and BCC have dragged some residents to the auctioneer in a bid to recover their money.
According to an auction schedule, Hollands has been instructed by the High Court Sheriff to sell immovable property through a public action.
Some of the affected residents include one Matson Hlalo, who is set to lose land measuring 4182 square metres, which is an industrial stand. Hlalo is the MDC-T Senator for Bulawayo.
State-owned bookseller, Kingston’s Limited, is also set to lose a commercial stand measuring 1,110 square metres after being dragged to court by Allied Bank over unpaid debts.
Other noticeable businesses include Visions Night Club and three others.
In late 2013, the Affirmative Action Group Bulawayo chapter waged a war against auctioneers and banks calling for a moratorium on litigation against businesspeople battling to pay rentals and other utilities in the city.
The lobby group said banks were abusing clients, hence they should not be allowed to auction any property as business, especially in Bulawayo, was in distress and not in a position to finance debts.
It argued that litigations had become big business and were negatively impacting on Bulawayo’s economy.