|Zesa set to clear US$76m debt|
|Monday, 30 July 2012 00:00|
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The power utility is now making weekly payments of US$1,7 million as it battles to clear the remaining US$36 million.
Zimbabwe Electricity Transmission and Distribution Company managing director Engineer Julian Chinembiri last week said Zesa was trying to clear the debt, while at the same time paying for current imports.
Eng Chinembiri said projections were that the debt would be cleared by December.
current charges,” he said.
“If we stop paying the current charges, it means the debt will continue rising.
Eng Chinembiri said power from Mozambique would be increased once Zesa clears its debt.
Zesa got US$40 million from two local platinum-mining companies, Mimosa and Zimplats and the money will be credited to their accounts as pre-payment for electricity.
Hydro Cahora Bassa has agreed to ensure uninterrupted power supply in the interim if Zimbabwe continues to make periodic payments.
Most residents, particularly in high-density areas, are going for almost 10 hours per day without power due to load shedding.