Even though Kwese Television (owners of the defunct Kwese TV) ceased operations, it hasn’t ceased to follow up on what it’s owed. Kwese Television is now suing its friend-now-turned-into-foe, Dr. Dish over a $634 000 loan it received from Kwese last year. Do you remember that Dr. Dish is that local media and broadcasting company owned by the President’s Son-in-law?
As you know, Kwese TV initially started offering its service using Dr. Dish’s license. But for that to happen Kwese had advanced 634 K to Dr. Dish so that they pay off the license fee to Broadcasting Authority of Zimbabwe (BAZ). Accordingly, Kwese is now taking Dr. Dish to High Court because when Dr. Dish’s license was canceled, BAZ refunded (to Dr. Dish) the 634 K it had received and Dr. Dish never remitted the loan back to Kwese. Additionally, Dr. Dish breached the lawsuit covers the breach of contract by Dr. Dish for failing to make the monthly repayments of that 634 K. Here is what the court papers are saying in full;
………..The defendant’s (Dr Dish) broadcasting licence was cancelled by Baz and the money advanced for payments for broadcasting licence fees was refunded to the defendant by Baz…….
On August 17, 2017, the plaintiff (Kwese TV) and the defendant entered into a shareholders’ loan agreement whose material terms were that the plaintiff agreed to lend to the defendant a sum of $634 400 and that the sum advanced to the defendant shall attract interest at the rate 10 percent per annum calculated from August 17, 2017 to date of full and final settlement…..
…….In terms of the shareholders’ loan agreement, the plaintiff advanced a sum of $634 400 to the defendants and the exclusive purpose of this amount was for the payment of licence fees in the amount of $584 400 and for the working capital requirements in the amount of $50 000. The defendant breached the shareholders’ loan agreement by failing to repay to the plaintiff the sum of money that was advanced for purposes of payment of the broadcasting licences and refunded by Baz and failing to make the monthly repayments stated above for the sum of money advanced for working capital purposes……