ZESA Zimbabwe Warns of Power Cuts Due to Dollar Shortages
By Godfrey Marawanyika and Chengetai Zvauya
(Bloomberg) — Power utility only receiving $1.5m weekly allocation from central bank instead of $5m it requires, Zimbabwe Electricity Supply Authority CEO Joshua Chifamba tells lawmakers in the capital, Harare.
- “If that is not addressed, there will be massive, massive load shedding,” Chifamba says, referring to local term for power cuts
- “We are now selling electricity at below the cost of production, we are hemorrhaging. The issue of tariffs has been our Achilles heel”
- ZESA’s avg monthly bill with South Africa’s Eskom is ~$10.5m for 120GWH; $2.6m from Mozambique’s HCB for ~63GWH
- ZESA negotiating for $314m equity for upgrade of Hwange Power Station, “we believe that by year-end we should have that money, we are talking to some banks”
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