RTG clears Afreximbank, PTA legacy debts

Rainbow Tourism Group has liquidated its legacy debts with the African Export-Import Bank (Afreximbank) and PTA Bank from operating cash flows, an executive has said.

The new management team inherited the debts in 2012 when it took office.

Speaking at the group’s analysts briefing last week, group CEO, Tendai Madziwanyika said the Afreximbank Bank debt was $7,5 million, while the PTA Bank debt was $3,5 million when his team came into office.

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