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Matsika loses Croco Motors fight

Local News
Croco Motors.

BUSINESSMAN Farai Matsika has lost his Supreme Court appeal in a case where he is fighting for control of Croco Motors.

Matsika had filed an appeal at the Supreme Court after the dismissal of another appeal at the same court.

Supreme Court judges, Justices Elizabeth Gwaunza, Joseph Musakwa and Hlekani Mwayera presided over the latest hearing.

The judges said further details regarding the dismissal of Matsika’s appeal will be made available soon.

“Whereupon after reading documents filed of record and hearing counsel, it is ordered that the preliminary point on jurisdiction raised by the respondents (Fair Gold Investments)  be and is hereby upheld with costs.

“The court declines jurisdiction in this matter. Full reasons for this order will follow in due course,” the brief judgment handed down on October 19 read.

In the previous Supreme Court hearing, the court ruled that Matsika tried to illegally grab ownership of Croco Holdings from the rightful owner and cousin Moses Chingwena.

Matsika has been fighting with his former partner and cousin Chingwena over control of Croco Holdings, claiming he spent over two decades building the empire while Chingwena was working elsewhere.

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