The Zimbabwe Power Company (ZPC) has received a $120 million debt package to rehabilitate its two power stations at ZPC’s Kariba South Hydro Power Station as well as Hwange Thermal Power Station. The loan is coming from the Standard Bank.
Tandiwe Njobe, the regional head of investment banking at Standard Bank said:
This funding will assist in improving access to power for Zimbabwe and Namibia, and in the medium to long term, benefits of improved power supply and reliability will also extend to other Southern African Power Pool (SAPP) members. The proceeds will be applied to significant capital expenditure which will increase capacity and improve efficiency of the power stations,