Zim racing

I have just seen the following on the Phumelela results:

At the end of December 2018, the Group called up a USD2,0 million bank guarantee to Mashonaland
Turf Club in Zimbabwe. Repatriation of funds to South Africa are subject, inter alia, to Zimbabwe
Reserve Bank approval.

Does anyone in the know know what the state of play is? From what I have been told this is not an amount that the club can pay.

Getting in first before someone else comes calling?

Their fields are nearly as bad as Kenilworths

My thoughts exactly Bob

Zim doesn’t have USD2.0 bar.


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Mac wrote: Zim doesn’t have USD2.0 bar.

Then expect assets to be sold - do they have anything of value besides the track?


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Its been a massive struggle for the racing folk there we have not heard from Shelly from a while? Hope ok

I remember we were encouraged to send horse there and i asked questions about how do you get the dollars back to SA not sure we ever got a reply
Sure it was Gareth Peppar at the time

I understand the turf club owns everything. There was talk of selling land adjacent to the course, and you can see development at the 1200m starting gates. These asset sales will also fund racing stakes - not a good financial strategy to sell assets to fund expenses but if the future is very bleak then why not go down in glory.

I doubt the Zim reserve bank will release the money because the whole county doesn't even have USD2 bar (so to speak).