Business / Companies
Zesa debt balloons
23 Aug 2013 at 04:46hrs | Views
A few months after Zesa Holdings cleared a massive $100 million debt owed to Mozambique's Hydro Cahora Bassa, investigations this week shows that the debt is on the rise again.
Zesa offices Bulawayo sources said last week that the debt had risen to about $27 million, a move which could force HCB, the only remaining regional supplier of electricity into the country, to cut supplies.
The move could significantly disrupt the country's economic activities and possibly precipitate an economic crisis.
Ministry of Energy and Power Development's permanent secretary, Partson Mbiriri, this week confirmed the development.
Zesa offices Bulawayo sources said last week that the debt had risen to about $27 million, a move which could force HCB, the only remaining regional supplier of electricity into the country, to cut supplies.
The move could significantly disrupt the country's economic activities and possibly precipitate an economic crisis.
Ministry of Energy and Power Development's permanent secretary, Partson Mbiriri, this week confirmed the development.
Source - fingaz
