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Harare High Court
Pan African Mining (Private) Limited v Cyndrella Masimbe
HH 55-25
Case Details
Court
Harare High Court
Date
6 February 2025
Citation
HH 55-25
Neutral Citation
[2025] ZWHH 55
Outcome
unknown
Case Type
Trial
Bench
Presiding
Mambara J
Full Bench
Mambara J
Areas of Law
Banking & FinanceCommercial Law
Keywords
Foreign obligationLocal liabilityCurrency conversionSI 33/19USD loanRTGS dollars
Tags
Banking & FinanceForeign CurrencyStatutory Instrument 33 of 2019
legislation
Statutes Cited
- Reserve Bank of Zimbabwe Act
ai analysis
Case Summary
Key Issues
- {"issue_text":"Whether the 2017 loan extended to the defendant was a foreign obligation that remained payable in USD or a local liability subject to conversion to RTGS at 1:1 per SI 33/19","issue_type":"mixed","dispositive":"yes","related_facts":"Loan was in USD and paid to foreign university; parties were both Zimbabwean entities"}
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background
Facts of the Case
Background
The plaintiff, Pan African Mining (Private) Limited, granted two personal loans to the defendant, Cyndrella Masimbe, in 2017 and 2019. The 2017 loan of USD 20,000 was used to pay university tuition in Scotland. A dispute arose whether this loan constituted a foreign obligation exempt from conversion to RTGS dollars under SI 33/19.
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