How WestProp won back Pomona City- its most valuable asset

WestProp Holdings which is listed on the Victoria Falls Exchange has won back its most valuable asset, Pomona City.

The Supreme Court has ruled that a debt dating back to 2015 had been settled in full when it was repaid at the rate of US$1 to Z$1.

Pomona City was one of the 13 properties that WestProp listed as its assets when it listed on the VFEX but one of WestProp’s rivals said that the property belonged to it since Augur Investments, which owned the property before WestProp, had not settled its debt.

Pomona City was valued at US$105 million out of a total portfolio of US$201.8 million.

Below is the full Supreme Court judgement.

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This post was last modified on September 23, 2023 5:35 pm

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Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.