Zimbabwe Electricity Supply Authority Holdings (ZESA) has avoided potential load-shedding after striking a deal with the Reserve Bank of Zimbabwe (RBZ) to settle Eskom’s $43 million debt in four months.
Eskom had given ZESA until tomorrow to settle the debt or risk being switched off. Zesa chief executive Engineer Josh Chifamba however did not disclose the details of the deal to The Herald but a source that attended the meeting said that Zimbabwe will be making monthly payments of $10 million. Eskom spokesperson Mr Khulu Phasiwe said that the RBZ wrote to them guaranteeing that they will pay the debt hence they will not switch off. Said Phasiwe:
That is enough for us that the State has now stepped in. It’s not an unusual arrangement for the State to provide guarantees and even us at Eskom, we have Government guarantees for the debts which we owe. We are not even singling out Zimbabwe for not being able to pay.