We have not received any money from Zim - Eskom | Fin24
 
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We have not received any money from Zim - Eskom

Jun 28 2019 16:29
Carin Smith

Eskom said in a statement on Friday that it was yet to receive any money from Zimbabwe as of 15:00 on Friday.

Fin24 reported on Monday that the Zimbabwe government said it would this week pay US$10m to Eskom as part of plans to unlock at least 400MW to ease power shortages in the country.

Zimbabwe, which according to power utility Zesa was producing 1200MW as of Sunday, needs at least 1700MW per day to meet demand. Over the years it has relied on Eskom and Mozambique's HCB for additional power.

However, a combined debt of US$83m to the two entities had meant limited supply of just 50MW from each.

"We will be paying Eskom US$10m this coming week, Finance Minister Mthuli Ncube told an informal media briefing Sunday.

Eskom group CEO Phakamani Hadebe, however, indicated in the latest statement that only once Eskom has received the funds, will it then enter into further discussions with Zesa.

eskom  |  africa  |  zimbabwe  |  africa economy
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