RBZ Equipment Goes Under The Hammer In Bulawayo

Most of the equipment were sold for as low as US$5.On Wednesday the High Court stopped the auctioning of the equipment after the central bank lawyer Munyaradzi Nzarayapenga made an urgent court application seeking an interdict barring the auctioning of its assets by creditors.
The farming equipment that went under the hammer on Friday included tractors, cultivators, scotchcarts and ploughs was sourced by the central bank but during
those days, critics alleged that Zanu (PF) leaders wanted to use the farming implements as a political campaign tool.Among companies that are owed money by RBZ are Seedco Limited, Art Holdings Limited, Lawrence and Farmtec Spares and Implements (Pvt) Ltd. The companies obtained writs against the RBZ in 2009 after the central bank failed to pay its debts.

Most of the farming equipment especially harrows and cultivators were being sold for as low as US$5 and US$6 respectively. While Knapsack sprayers were being sold for US$3 each.
 
“ We had no option but to sale  these  items  at such low  prices  because  they  were  rotting but still  they had  to be sold, ” said an  official from Ruby Auction. The farming equipment had been lying idle at the National Railways of Zimbabwe (NRZ) grounds for four years.

On Thursday Bulawayo High Court Judge Justice Nicholas Ndou dismissed the RBZ urgent application to block the sale. “ The application by RBZ is dismissed and therefore the auction should go ahead with immediate effect. I see no urgency in this matter, ” Justice Ndou ruled