CAPS United Multi-Million Dollar Sponsorship Deal in Doubt as Green Dollar Coin Fails to Deliver

When CAPS United announced a US$4.3 million sponsorship with the little known financial entity Green Dollar Coin in September, fans believed the Harare giants had finally secured the lifeline they had long sought. The deal promised new team buses, improved player welfare, youth development programs, and a hefty annual payout.

But barely a month later, the partnership is unraveling. Green Dollar Coin’s Harare offices have gone silent, leaving dozens of workers unpaid or partially paid. Some former employees say they received just one payment and in Bitcoins, not US dollars as promised.

Documents seen indicate that employees in Digital Marketing and Data Capturing were hired on short-term contracts with salaries ranging from US$450 to US$570 per month. Street marketers were promised US$250. Since August, most staff have received only a single payment in digital currency, with no cash settlements.

“We couldn’t use the coins for anything,” said one former employee. “We complained, but we were told to be patient. Later, we were asked to stay home while paperwork was being ‘sorted out.’”

When staff pressed for answers, Green Dollar Coin president Noel Mavura allegedly claimed the company was still seeking registration with the Reserve Bank of Zimbabwe (RBZ). He offered employees a US$2 daily transport allowance, which they rejected, and weeks later, told them to stay home entirely. Contracts are set to expire at the end of October, with no salaries or settlements in sight.

The RBZ has confirmed that neither Green Dollar Coin nor Green Dollar Development Bank is a registered financial institution in Zimbabwe. “We have not received any application from such an entity,” the central bank said, warning that operating without registration is a criminal offence. Only 19 banks and roughly 300 microfinance institutions are currently licensed in the country.

Claims that the company was regulated in Lesotho were also denied by the Central Bank of Lesotho. Meanwhile, Mavura reportedly purchased a house in an upmarket Harare suburb, paid a US$10 000 lobola, and travelled to Kenya with his new wife under the pretext of meeting investors all while employees went unpaid.

A small number of workers remain at Green Dollar’s offices, still accepting public deposits, raising fears of a possible financial con. Lawyer Similo Nkiwane said employees have a strong legal case. “These contracts are legally binding. The employer must honour them or face action in Labour Court. Operating without RBZ registration is also a criminal matter,” she said.

The original sponsorship deal had been unveiled with fanfare: a US$1.2 million annual payout over three years, US$100 000 for activations and performance bonuses, and two new team buses. But with the legal status of Green Dollar Coin in question, the arrangement now hangs in the balance.

“When the deal was announced, it was presented as Green Dollar Development Bank from Lesotho,” said one source. “When doubts emerged, the name suddenly changed to Green Dollar Coin.” CAPS United management later described the discrepancy as a “mix-up in naming,” yet no official funds have been disbursed.

The RBZ has urged the public to exercise caution. “Zimbabweans must be wary of unregistered financial operators and report any suspicious entities immediately,” the bank said.

For now, the promise of Green Dollar Coin appears to be fading. Unpaid workers, a phantom registration, and a football club still waiting for millions leave one pressing question: Was the CAPS United deal ever genuine, or was it a well-packaged scam from the start?