Namibia: Bid to Restrict SME Bank Liquidators

The Zimbabwean minority shareholders of the Small and Medium Enterprises Bank will have to wait five weeks to hear if they succeeded to have the bank's liquidators stripped of expanded powers granted them at the start of February.

Judge Thomas Masuku yesterday reserved judgement on an application by the Metropolitan Bank of Zimbabwe (Metbank) and the Zimbabwean company Worldeagle Investments to have an order that was granted in the Windhoek High Court on 2 February rescinded and set aside. Having heard oral arguments, judge Masuku postponed his judgement to 23 April.

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