Finance Minister Mthuli Ncube told journalist today that Zimbabwe will be paying Eskom US $10 million to cover its debt to the South African power utility company. The move is meant to unlock the supply of 400 Megawatts of power from Eskom.
From Fin24:
Zimbabwe will this week pay US$10m to South Africa’s power utility Eskom as part of plans to unlock at least 400MW to ease power shortages in the country.
The southern African country, which according to power utility Zesa was producing 1200MW as of Sunday, needs at least 1700MW per day to meet demand. Over the years it has relied on Eskom and Mozambique’s HCB for additional power.
However a combined debt of US$83m to the two entities had meant limited supply of just 50MW from each.
We will be paying Eskom US$10m this coming week, Finance Minister Mthuli Ncube told an informal media briefing Sunday.
Zimbabwe is currently under acute load-shedding with households countrywide going for at least 17 hours of no power daily since the beginning of June. Before that, Households were load-shed for about 8 hours a day.
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