Zimbabwe Cuts Debt to Power Supplier Eskom to $4m: Sunday Mail
Zimbabwe Cuts Debt to Power Supplier Eskom to $4m: Sunday Mail
(Bloomberg)--Zimbabwe has slashed its debt to South African power provider Eskom Holdings to $4 million from $33 million, the state-owned Sunday Mail newspaper reported, citing Energy Minister Fortune Chasi.
“We are making payments religiously,” Chasi was quoted as saying. “We have reduced the debt to $4 million or thereabouts. We are also working on further reducing our indebtedness to Mozambique.”
The southern African nation is reliant on imports from South Africa and Mozambique to augment power supplies. Power cuts can last up to 18 hours daily after a drought reduced water levels at Lake Kariba and as frequent plant breakdowns occur at the thermal power station in Hwange.
Chasi said expansion works at the Hwange power station were facing delays due to the impact of the coronavirus, which curtailed movement of workers from China.
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