Business Briefs

  • Zimbabwean Companies Sign Deals worth over $188 Million with Afreximbank at IATF 2021.

    Tafadzwa Mutsika  African Export-Import Bank (Afreximbank) has signed financing agreements with four Zimbabwean entities namely Zimbabwe Electricity Transmission & Distribution Company (ZETDC), Central African Building Society (CABS), CBZ Bank and ZB Bank for a total of US$188,600,000. The deals was concluded during the second Intra-African Trade Fair (IATF2021) currently taking place in Durban, were agreed on Tuesday and Wednesday. The…

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  • ZESA owed $15 billion in unpaid electricity bills

    The Government has directed Zesa Holdings to immediately institute measures to recover $15 billion it is owed by its clients in unpaid electricity bills. Under the directive only paying customers should get power. Energy and Power Development Acting Minister, Jenfan Muswere said all electricity consumers must be placed on smart meters to ensure maximum revenue collection and ensure that the…

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  • ZESA gets US$110 million loan from Afreximbank

    STATE-OWNED power utility ZESA has signed a US$110 million syndicated loan with pan-African multilateral trade finance institution Afreximbank, the bank said on Friday. The bank, headquartered in Cairo, said the funds will help a ZESA subsidiary procure pre-paid electricity meter devices and also cushion the losses the utility provider suffers as a result of bad debts. “The funds will help…

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