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Coca-Cola Beverages Zambia Limited is suing a Matero-based trader, and seeking over K12 million in unpaid debt.
Brian Chanda, trading as Matero Best Seller, reportedly had an agreement with Coca-Cola to purchase products such as Fanta, Coke, and Sprite for resale.
The company is said to have delivered the products, and Chanda signed tax invoices as confirmation.
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Despite agreed payment terms ranging between 14 days, 30 days, or upon delivery, Chanda reportedly defaulted on payments.
By September 27, 2023, he had accumulated a debt of K12,272,980.74.
In an effort to settle the debt, the two parties reportedly signed a Memorandum of Understanding (MOU) on September 28, 2023, which outlined a payment plan of monthly installments of K200,000.
However, Coca-Cola alleged that Chanda failed to pay any installments.
After issuing a letter of demand with no response, Coca-Cola is now suing for the K12,272,980.74, along with damages for breach of contract, interest, and legal costs.
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