Manufacturing companies paying close to US$5.5 million monthly to ZESA for power imports as RBZ fails to meet forex demands

Manufacturing companies are paying close to US$5.5 million monthly for the importation of power following a deal with ZESA holdings which calls for pre-payment of electricity supply.

The deal was reached late last year as the power utility was getting inadequate foreign currency allocation from the Reserve Bank of Zimbabwe (RBZ), receiving US$1,5 million weekly out of a demand of US$5 million. ZESA Holdings Group CEO, Engineer Josh Chifamba said despite support from the local industry the power utility is still finding it difficult to  meet the remaining US$10 million required monthly.

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