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.