Magacha fails to pay debt
By Adoration Bizure
Gospel musician Sabastian Magacha is in trouble for failing to pay his debt.
The Bhosvo singer is now seeking out of court settlement and asking to be given time to repay the $2500 loan he took some time ago from CBZ Bank through a youth empowerment scheme under the ministry of youth.
In an interview after filing his papers at Harare civil court Magacha said he had failed to settle the debt for the loan he took in 2015 after instruments he had bought with the money got stolen.
“You might be aware that sometime in 2015 I lost my musical equipment to thieves who broke into my house and stole them.
“I reported the matter at Mabelreign Police Station and I had used the money from the loan to buy those instruments.
“I have failed to recover the money because I wanted to get the money back by hiring the instruments out and also from my own live shows.
“Since I have failed to meet the deadline I am now seeking a payment plan to pay back the money,” he said.
On May 2 2015, Magacha lodged a complaint with the police after burglars broke into his house and stole musical equipment worth $10000.
The loss of the equipment resulted in Magacha failing to pay the money that he was owing the bank. H-Metro