No takers for $50 million Zimbabwe electricity bond

A bond floated by the Infrastructure Development Bank of Zimbabwe in December last year is struggling to find investors, affecting two power generation projects meant to improve electricity supplies.

This has been compounded by the failure of Jaguar Overseas, the Indian contractor, to secure $59 million for its commitment in one of the project.

The bond failed to excite the liquidity challenged starved market.

This means the country is now falling behind schedule in its energy projects, meant to turnaround the ailing economy under ZimAsset.