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Zimbabwe Cricket Board blow 10 Million loan in 5 months

NUFAN

NUFAN

Y no Afghanistan flag
10,000,000.00 ZWD = 27,631.943 USD

So overall Zimbabwe shouldn't be too hard on themselves.
 
9

91Jmay

International Coach
Who loaned them the money? Local government? I honestly refuse to believe they were given 10 million USD in the first place.
 
indiaholic

indiaholic

International Captain
Time to get Ireland or Afghanistan into the fold. Both countries will be crap but over 10-15 years they should be at the level Bangladesh is now.
 
AndyZaltzHair

AndyZaltzHair

Hall of Fame Member
91Jmay said:
Who loaned them the money? Local government? I honestly refuse to believe they were given 10 million USD in the first place.
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The report says that they secured it from a regional institution. Would like to see further proof about the validity and a thorough investigation to be launched
 
indiaholic

indiaholic

International Captain
From this article it looks like the 10mn was actually a loan from Ecobank that was taken out to pay out a 7.5mn loan from Metropolitan Bank. That at least kind of explains how they managed to spend so much so fast.
 
Daemon

Daemon

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91Jmay said:
Who loaned them the money? Local government? I honestly refuse to believe they were given 10 million USD in the first place.
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Few years back they were financed a similar loan by the ICC, which they then deposited most of into a non interest bearing account in a bank that the top ZCB officials were shareholders in (Metbank). On top of that they even went on to take out loans from that same bank at inflated interest rates, when ICC was offering significantly lower rates.

Metbank is also ****, being monitored as a bank that's likely to liquidate and is in massive debt.
 
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Marius

Marius

International Debutant
We mustn't forget though, that the Zimbabwean side generally reflects the demographics of the broader population and that is the most important thing. The collapse of cricket in the country and the blatant looting of the organisation's coffers pale into significance when we remember that the side is demographically representative.
 
9

91Jmay

International Coach
Marius said:
We mustn't forget though, that the Zimbabwean side generally reflects the demographics of the broader population and that is the most important thing. The collapse of cricket in the country and the blatant looting of the organisation's coffers pale into significance when we remember that the side is demographically representative.
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**** off you racist prick.

Yeah, they shouldn't get another ICC penny to be honest. Sad as it might be their cricket board can't be trusted.
 
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