Zimbabwe: U.S. $132 Million Reprieve for Zesa

source: allAfrica
The Herald (Harare)
Published by the government of Zimbabwe
Reuben Madzivo
1 March 2010

Harare — ZESA Holdings will get US$132 million in loans and grants from the Development Bank of Southern Africa and African Development Bank for infrastructure rehabilitation once repayment conditions have been worked out.

It will only be known what impact the loan repayments will have on tariffs once the payment conditions have been settled, but it is likely that consumers will have to pay more.

The power utility has been battling with power shortages following a major breakdown at Hwange Power Station and is short of generating capacity even if all power stations are working flat out.

Zesa Holdings chief executive Engineer Ben Rafemoyo last Friday confirmed the proposed loan adding that officials were [continue reading]

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