• Water shortage

    Climate-related consequences are raising food prices, joblessness, crime, and instability.

  • High food prices

    Mandi Smallhorne looks beyond the weather as the cause for rising food costs.

  • Sars Wars returns

    Allan Greenblo looks at the leadership concerns around the 'Twin Peaks' regulatory model.

All data is delayed
Loading...
See More

Zim to issue $30m bond for power utility

Oct 24 2012 09:27
Reuters

Harare - Zimbabwe’s state-owned infrastructure bank said on Wednesday it will float a $30m bond to raise funds for the national power utility, as the country grapples with electricity shortages that have crippled industry.

Infrastructure Development Bank of Zimbabwe (IDBZ) said in a statement it would float the three-year bond with a 10% fixed rate on October 29.

“It was resolved that the focus of the bond issue be on the power sector, which is a key enabler in the economy,” IDBZ said.

Zimbabwe’s infrastructure - including roads, railways, dams and power plants - has been starved of finance due to a decade of economic collapse, which eased somewhat with the formation of a power-sharing government in 2009.

Earlier this year, Finance Minister Tendai Biti said the country would float $100m bonds to rehabilitate its aged infrastructure.

 
zimbabwe  |  power supply

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The regulation of WhatsApp and other OTTs is:

Previous results · Suggest a vote

Loading...