The Reserve Bank of Zimbabwe (RBZ) is struggling to raise USD890 000 weekly to clear ZESA Holdings’ huge debt owed to South Africa’s power utility Eskom.
Due to foreign currency shortages being experienced by the RBZ, there are concerns that Eskom may cut off power if the ZESA falls behind in making the weekly payments.
Zim Morning Post was told by its source that the payments “are choking ZESA”;
You must be aware that we are paying at least USD890 000 every week to ESKOM in a bid to clear our debt which we owe to South Africa.
However, the weekly payments are choking RBZ because this has become the top priority due to forex challenges.
This deal is actually choking the RBZ as we do not have foreign currency, we end up having runners in the streets buying foreign currency at a high rate.
If we fail to pay or delay paying the bill with at least 24 hours the contract will be cancelled.
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By the w ay rbz has runners in the streets to buy forex? are there receipts.?most desperate
If reserve bank can’t pay 890 000 a week. I mean less than a million for such a fundamental national need. It means country is now truly broke. Unfortunately Ramaphosa does not have power to give out willy nilly. Only Eskom has authority to do so. Ramaphosa will not jump the gun. There is too much at stake for him. In SA things are not done the Zanu way. Parliament and chapter 9 institutions hold the president responsible shud he abuse his powers.
Bunch of fucking idiots
Did i just hear correctly? Going to runners in the streets? For forex? Less than a milkion? Weekly? Then we are in deeper shi_t than i thought we were in. Infact it was always evident that if wr failed to psy the debt in the 1st place, where concessions and waivers and liens are the order of the day. Now we hope to be st our best behavior on a more stringent weekly regime?? No wonder we are back to stage 4
How come rbz got 400 m for chiwengas jaunt to china ?
RBZ morons were not aware of the terms and conditions of the Eskom deal five weeks ago??
Why the reluctance to collect debts from big wig ministers????? We could pay all of escom and moz ?????? Weird ??? Who is chasi related to ?
Exactly mama grace and so forth.
Priorities matter. They need to recover all the RBZ foreign currency leakages revealed in parliament. The weekly eskom payment is nothing compared to that
ZANUPF are extremely wealthy with investments and assets in the West using donor money since 1980. There is no hope unless the REAL choke on Zimbabwe is eliminated. Until then RBS and our economy will be begging in the streers
How can a country not raise one million a week to pay a electricity bill. It means we are stone cold broke. What is happening to the money really. What a disgrace Zimbabwe is and they have no shame. Still say the country is on the mend when we have have 20 hour power cuts most days.