Home World News Emerging Markets Zimbabwe owes over US$100 million to regional power utilities

Zimbabwe owes over US$100 million to regional power utilities

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Zimbabwe owed 102.9 million U.S. dollars to various regional power suppliers as of June 2023, according to a report released on Thursday by the Zimbabwe Public Debt Management Office in the Ministry of Finance and Economic Development.

The regional power utilities include Electricity of Mozambique (18.73 million dollars), Hidroelectrica de Cahora Bassa Mozambique (74.92 million dollars), and Eskom of South Africa which is owed 7.38 million dollars.

The country also owes 1.86 million dollars to Zambia’s power utility, the Zambia Electricity Supply Corporation, and 10,000 dollars to Botswana Power Corporation.

Zimbabwe, which has a peak demand of about 1,700 megawatts of electricity but is unable to generate enough due to obsolete equipment at some of its power stations, plugs the deficit with imports from regional utilities.

Last month, a Chinese-funded upgrading of Hwange Thermal Power Station by China’s Sinohydro was completed, adding 600 megawatts to the national grid and helping end incessant power cuts that had been experienced since December last year. Enditem

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