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.
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The Zimbabwe Electricity Supply Authority, (ZESA) under the Ministry and Energy and Power Development was established as the producer, distributor, and regulator of Zimbabwe’s electrical power by Act in 1981 and formed in 1985. It has a number of subsidiary companies with various specialties in... Read More About Zimbabwe Electricity Supply Authority Holdings
The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe
Joshua Chifamba, who is popularly known as Josh Chifamba is the current Chief Executive Officer (CEO) of the Zimbabwe Electricity Supply Authority (ZESA) Holdings. He is an engineer by profession, who recently completed his Masters Degree in Business Management. He has been in the energy... Read More About Josh Chifamba