Zifa has reportedly cleared most of its legacy debt which has been haunting them for years and crippling their operations.
The football body’s debt had ballooned to US$ 10m at the start of the year, but according to the Herald, about $8m has already been paid to the creditors in what represents a huge development for an organisation which has been limping for a while.
The publication adds that the association has chosen not to declare their debt-clearing exercise to the public although many of the creditors have confirmed receiving their dues.
Potraz recently acknowledged that they have been paid while CBZ Bank has also admitted receiving money from the association.
The CBZ debt, totalling $1,7m was housed under the Zimbabwe Asset Management Company (ZAMCO), which accommodates non-performing loans.
ZAMCO chief executive Cosmas Kanhai said: “They made a significant payment to their account, but I cannot tell you the balance due to client confidentiality.”
“You can confirm the figures with ZIFA or, if they give us the green light to share that information, then we can freely do so.”
Other known creditors include Pandari Lodges and Conference Centre, NSSA, ZIMRA, Sports and Recreation Commission, Led Travel &Tours and several former Warriors coaches.