Zimbabwe Electricity Company receives $132 million
4 March 2010
The Zimbabwe national electricity company has received 132 million Dollars for the development and upgrading of its infrastructures.
This financing is coming from the South African Development Bank and the African Development Bank, ZESA announced last Monday.
The Director General of the Zimbabwe Electricity Supply Association (ZESA), Ben Rafemoyo, told the PANA agency that the majority of these funds will be used to renovate existing electricity production units, as well as the thermal power station in the mining township of Hwange.
The South African electricity company Eskom has itself just been authorised to double its tariffs over three years in order to finance a programme of upgrading of its infrastructures, which includes the construction of two coal-fired power stations at Medupi and Kusile.
Eskom will be able to increase its prices by 24.8 percent as from April, 25.8 percent in 2011, and then 25.9 percent in 2012, the President of the National Energy Regulating Authority has announced, quoted by Agence France Presse.