PRESIDENT Mugabe’s son, Bellarmine, did not apply for a loan from BancABC, the bank said in a statement.

The bank’s comment follows the publication of an article in the Zimbabwe Independent on Friday, September 30, titled “Mugabe son denied loan”.


The story alleged that a local bank had rejected Bellarmine’s $380 000 loan application to fund “his obscure businesses and lavish lifestyle as it sought to contain non-performing credit to politically expose persons on its books



In a statement, BancABC distanced itself from the article in the Zimbabwe Independent and denied that Bellarmine ever applied for a loan. “African Banking Corporation of Zimbabwe Limited (BancABC), wishes to inform the public that the aforementioned article is unsubstantiated, entirely fabricated and malicious.

“BancABC wishes to categorically put on record that Mr Bellarmine Chatunga Mugabe has no relationship whatsoever with BancABC and that he has never at any point sought for a loan or any other facility from the bank,” said BancABC.
The bank dismissed the article as malicious.

“BancABC distances itself from this malicious article in its entirety and reserves its rights in terms of the law regarding the action it may take to protect its interests.

“BancABC wishes to assure the public that the bank continues to strictly observe and adhere to banker-customer confidentiality,” said the bank.

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