Zesa owes Eskom R322 million

Minister of Public Enterprises Pravin Gordhan has said that debt-laden power utility Eskom is owed a combined R632 million by three neighbouring countries for providing electricity.

Gordhan, in written reply to a question from Democratic Alliance MP Denis Joseph, said the debtors were Zimbabwe Electricity Supply Authority (Zesa) of Zimbabwe — which owes R322 million; Zesco of Zambia — which owes R221 million; and Electricidade de Mocambique (EDM) — which owes R89 million.

Eskom, which has a total debt burden of R450 billion, has for years experienced difficulties in collecting money owed to it electricity it has already provided. It is owed about R25 billion by South African municipalities, many of which are financial trouble.

Gordhan said none of the funds owed to Eskom by the power utilities of neighbouring countries were in dispute. “Eskom’s clients acknowledge their debt and attribute economic challenges as well as financial constraints as the cause of their delays in settling the outstanding debt,” Gordhan said.

The minister included a submission from Eskom in his written reply, which said Zimbabwe’s economic challenges meant it was unable to honour its debt obligations.

“Eskom and Zesa currently have a payment plan agreement for the settlement of the debt and Zesa is paying off the debt as per the agreement,” the submission said. Eskom said it supplies EDM with standby power. — Fin24.

Source :

Check Also

Zimbabwe: Forex Demand in Upward Trajectory

Demand for foreign currency on the auction platform is showing an upward trajectory with 540 …

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This function has been disabled for Zimbabwe Today.