African Banking Corporation of Zimbabwe Limited (BancABC)

PRESIDENT Mugabe’s son, Bellarmine, did not apply for a loan from BancABC, the bank said in a statement. The bank’s comment follows the publication of an article in the Zimbabwe Independent on Friday, September 30, titled “Mugabe son denied loan”. The story alleged that a local bank had rejected Bellarmine’s $380 000 loan application to fund “his obscure businesses and lavish lifestyle as it sought to contain non-performing credit to politically expose persons on its…