Financial News

ZESA TO INSTALL PREPAID METERS ON GOVT BUILDINGS

 

#News #RatesZW #RatesZimbabwe

The Zimbabwe Electricity Supply Authority (Zesa) plans to install prepaid meters on government buildings to curb wastage and contain the government’s debt to the power utility.

Speaking at a Ministry of Industry and Commerce breakfast meeting, which was held in conjunction with Alpha Media Holdings (AMH) yesterday, Energy and Power Development minister Fortune Chasi said Zesa was being weighed down by debts.

Parastatals owe $43 million, industry US$95 million and farmers US$143 million to Zesa. Local authorities also owe Zesa US$359 million.

Chasi said he had already asked Zesa to give him a rollout plan for installing meters at all government departments.

“No time for politicking on the issue. When you have a debt, you simply must pay. This is what I want. I would like to make a very impassioned appeal to commerce and industry; to say you owe a significant amount of money to Zesa, initially denominated in US$. This is a very serious situation we are facing, partly because we have been irresponsible; we did not pay our debts,” he said.

Chasi said the current tariff was untenable.

Related posts

Individual FCA Nostro Accounts balances to be converted to ZW$ at interbank rates

RatesZW

900 RTGS = 100 USD/ 700 Bond – 27nd June 2019

RatesZW

INTERBANK RATES NOW HIGHER THAN BLACK MARKET RATES

RatesZW

Leave a Reply