Zimbabwe: Zesa Pays Eskom $12m, Pledges More

3 October 2017

Zesa Holdings has paid South African power utility Eskom $12 million to avoid being switched off and will pay another $20 million this month as it battles to clear its arrears. The power utility also presented a payment plan of $5 million a week beginning next month to settle the $44 million owed to Eskom.

The debt will however, take about five months to clear as $12 million will go towards servicing current supplies monthly. Eskom has repeatedly threatened to switch off Zimbabwe, which is facing acute foreign currency shortages. Zesa chief executive Engineer Josh Chifamba yesterday was tight-lipped on the latest arrangement.

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