The Herald (Harare)

20 February 2013

Zimbabwe: ZESA Reduces Debt

Electricity load-shedding is set to ease in most parts of the country after Zesa Holdings cleared its debts to suppliers in the region, although some challenges still remain in supplying enough power, an official has said.

Giving evidence before the House of Assembly Portfolio Committee on State Enterprises and Parastatals yesterday, Zesa chief executive officer Engineer Josh Chifamba said the financial resources directed to debt alleviation would now be channelled to production.

"We owed Hydro Cahora Basa US$100 million and we have managed to clear that and we are trying to ensure that we remain current," he said.

"We do not owe any of our suppliers at the moment and it explains the improved supplies we have recently had."

Eng Chifamba said the US$2 million they owed Snell from DRC had been settled in exchange for equipment produced by their subsidiary Zesa Enterprises.

Ads by Google

Copyright © 2013 The Herald. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.