The Civil Society Organisation Forum has been sued in the Lusaka High Court for breach of a loan agreement after it allegedly failed to settle K300,000.
A Lusaka business woman and proprietor of E.E Glenridge business dragged the Non-Governmental Organisation (NGO) to court claiming it had failed to pay K300,000 despite several reminders.
The litigant cited CSO and its director, Dylan Chifita, as first and second defendants in the case.
In a statement of claim, Mwamba said the parties entered into a loan agreement on September 20, 2020 in which she loaned out a principal sum of K100, 000 to the organisation.
The defendant agreed to interest rate of 30 percent on a monthly basis and interest only to be paid in first six months thereafter payment of the principle amount plus interest for that month.
The plaintiff stated they entered into another loan agreement on November 16, 2020 in which she loaned out a principal sum of K100, 000 to CSO who agreed to add a K35, 000 as interest.
“The first and second loan agreement brought the principal sum to K200, 000. The accrued amount due at the material time was k360, 000.00 The defendants only made a partial payment of K60, 000 as interest only, leaving a balance of K300, 000,” she said.
Mwamba wants the High Court to order the defendants to settle the balance of K300,000 plus interest due.
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