ZESA loses $140m in 9 months, expected to lose $233m in 12 months

Power utility ZESA  is incurring huge losses, after lossing $140 million in 9 months.  This is expected to increase to $233 million by the end of the year, which is double the losss made last year of $111,4 million.

ZESA Chief Executive Josh Chifamba said:


Introducing the Pindula News Mobil App
Download from Google Play Store

We are actually haemorrhaging as it is. We are selling power at below cost.

The utility has not been awarded a tariff increase since 2011 and there has been no financial provision for the temporary emergency power plant and this has negatively affected the financial position of the utility.

More: The Source

 

Join WhatsApp & Telegram News Groups:

WhatsApp Group: https://chat.whatsapp.com/D4vbg5RLhkbFfVyMdu8rLi


Telegram Group: https://t.me/pindula

Back to top

Write a Comment

Your email address will not be published.


Share Full Post

Nyaradzo logo

RSS Recent Profiles Created

Satisfaction survey
How likely is it that you would recommend Pindula News to a friend or colleague?
SuggestionsHow can we improve?
You have already submitted your feedback. If you would like to add more feedback please write us on hello@pindula.com.
ZESA loses $140m in 9 months, expected to lose $233m in 12 months