Businesswoman drowns in debt

IMMOVABLE and movable property belonging to Kwekwe businesswoman, Loucia Mary Machekera is expected to go under the hammer this weekend, as she struggles to settle debts to banks and other companies.


Machekera, who owns Clinoid Transport, Techrach Enterprise and has several other business interests in the city, owes, among others, NMB Bank, ZB Bank, Mega Market of Mutare and MicroKing Finance over $133 598.

NMB, through its lawyers Danziger and Partners, in case number 2165/15, won a writ of execution at the Gweru Magistrates’ Courts over an $8 826 loan, attracting an interest of 18% per annum from October last year.

ZB Bank is owed $31 772, which it wants its lawyers Masawi and Partners, to collect with 35% interest per year, including collection commission and costs of the suit.


The judgment, which was delivered at the Kwekwe Magistrates’ Courts under case 575/14, has now been paired with that of MicroKing Finance, which is demanding $79 000 from Machekera, her brother Roy and a business partner identified as T Samupunga in case 612/15.

Mega Market of Mutare has also won its case against Muchekera over a $14 000 debt which was extended in November 2014 and not repaid.

Kwekwe messenger of court, Energy Pedzera has since attached an upmarket two-storey house in Chicago, which has 12 rooms, as well as a warehouse and business offices in Redcliff, which will go under the hammer if payments are not made by Saturday.

Also attached is household furniture, a double-cab Ford Ranger truck, a Honda CVR car and a truck and its trailer.

The money raised from the auction will be shared among the creditors.

8 Responses to Businesswoman drowns in debt

  1. TONDORI January 21, 2016 at 7:27 am #

    I feel for her may GOD have mercy on Zimbabwe’s economic situation.A lot of things are folding up.

  2. Mukanya January 21, 2016 at 8:33 am #

    Flash the” PARTY card” for saviour!!

  3. jonso January 21, 2016 at 8:38 am #

    Makumhanyiraical power ko ana Mcdowells, capital base nevamwe vakadya mari dzevanhu makadii navo? mukadzi uyo kuda nekuti haana polit

  4. jonso January 21, 2016 at 8:40 am #

    makumhanyira mukadzi uyo kuda nekuti haana political power ko vana mcdowells capital base vakadya mari dzewshirikadzi nenherera makaitei navo?

  5. gunguwo January 21, 2016 at 9:00 am #

    She who borrows is servant to the lender. Loans and debts are not very good for business. Let’s learn to nurse small businesses until they can finance bigger ones. And when they are profitable, let’s learn to invest for the rainy day in future. Now this madam is losing too much through an auction. Sad.

  6. keep trying January 21, 2016 at 12:04 pm #

    yeah, well at least she tried and its not like she will be losing her life. keep trying, a lot of businesses always crumble and rise and crumble and rise.

  7. WILLARD MUBVUMBI January 21, 2016 at 12:50 pm #

    I believe she is a politician. Local politicians always do that, ie, borrowing and never pay back. Also, the way she formed her businesses. If you start your business using evil or dirty money, the chances of having that business collapsing are high. If you steal money and start a business, surely, that business wont last.

  8. Titus January 21, 2016 at 3:41 pm #

    Just a victim of the harsh economic conditions i suppose. How one can lose a lifetime saving over a short period of time. God help us. This should also be a lesson to other businesses not to be over borrowed.

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