Zesa in negotiation with Afrexim Bank for the clearance of the $ 70 million owed to its suppliers

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(Agence Ecofin) - In Zimbabwe, the electricity company Zesa Holdings is in talks with the African Export-Import Banks (Afrexim) to settle its debts to its energy suppliers. It owes $ 70 million to its South African counterpart Eskom and to the Mozambicans EDM and Hidroélectrica in Cahora Bassa.

“We are about to finalize the financial arrangement. We have made great efforts to settle our debts with our regional suppliers, but we still owe them around $ 70 million ”, said Patrick Chivaura, the executive director of Zesa.

Last August, Zimbabwe paid Eskom $ 4 million, which enabled it to obtain 400 MW from South Africa. It imports 50 MW from Mozambique and is in negotiations to increase this quantity to 150 or even 400 MW.

Zimbabwe has been experiencing an increasing energy deficit for almost 8 months due to the drop in water levels in the Kariba dam. This has been compounded by the poor condition of the country's thermal power plants, which regularly break down.

Gwladys Johnson Akinocho              

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11/11/2019 - Zimbabwe: electricity deficit has lowered gold production by 20%

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