{"id":18575,"date":"2020-01-26T20:16:17","date_gmt":"2020-01-26T18:16:17","guid":{"rendered":"https:\/\/www.africa-press.com\/zimbabwe\/?p=18575"},"modified":"2020-01-26T20:16:17","modified_gmt":"2020-01-26T18:16:17","slug":"govt-delayed-zesa-holdings-afreximbank-loan-facility-gata","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/govt-delayed-zesa-holdings-afreximbank-loan-facility-gata","title":{"rendered":"Govt Delayed ZESA Holdings-Afreximbank Loan Facility \u2013 Gata"},"content":{"rendered":"

Zimbabwe has secured US$100 million from the Afreximbank to clear its arrears owed to Mozambique and South Africa power utilities, EDM\/Cahora Bassa and Eskom respectively.<\/p>\n

This was revealed by\u00a0ZESA Holdings<\/a>\u00a0executive board chairperson,\u00a0Sydney Gata<\/a>\u00a0in an interview with\u00a0Sunday News<\/em>. There were, however, some delays in securing the loan facility. Gata explained:<\/p>\n

The \u2026 unfortunate thing is that while Zesa has raised through a bank US$100 million to pay for arrears to Eskom; Electricidade de Mo\u00e7ambique (EDM), which is the power utility for Mozambique; and Cahora Bassa, which is like the\u00a0ZPC (Zimbabwe Power Company)<\/a>\u00a0of Mozambique, there has been an inordinate delay in procuring borrowing certificates and guarantees from Government. It took almost two months to get the certificate.<\/p><\/blockquote>\n

\n

By the time they were issued just before Christmas, everybody had gone on holiday and we were not able to process. As people come back from holiday, we are pursuing with the bank to clear the arrears and activate support of up to 400 MW from Eskom and 150MW from EDM.<\/p>\n

In respect of Cahora Bassa, it is both to pay for the arrears and also renegotiate an extension of the old agreement. In respect of Eskom, the condition precedent is to pay for the arrears. With EDM is also to pay for the arrears.<\/p>\n

Meanwhile, ZESA has been able to pay in advance to French and Italian companies that are currently working to revive two units at Hwange Thermal Power Station.<\/p>\n

The revival of the two units is expected to be completed in March this year and will add another 300MW or so to the national grid.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Zimbabwe has secured US$100 million from the Afreximbank to clear its arrears owed to Mozambique and South Africa power utilities, EDM\/Cahora Bassa and Eskom respectively. This was revealed by\u00a0ZESA Holdings\u00a0executive board chairperson,\u00a0Sydney Gata\u00a0in an interview with\u00a0Sunday News. There were, however, some delays in securing the loan facility. Gata explained: The \u2026 unfortunate thing is that […]<\/p>\n","protected":false},"author":84,"featured_media":18576,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,12],"tags":[800,675],"class_list":{"0":"post-18575","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-policy","9":"tag-government-of-zimbabwe","10":"tag-zesa"},"yoast_head":"\nGovt Delayed ZESA Holdings-Afreximbank Loan Facility \u2013 Gata - zimbabwe<\/title>\n<meta name=\"description\" content=\"Zimbabwe has secured US$100 million from the Afreximbank to clear its arrears owed to Mozambique and South Africa power utilities,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/govt-delayed-zesa-holdings-afreximbank-loan-facility-gata\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt Delayed ZESA Holdings-Afreximbank Loan Facility \u2013 Gata\" \/>\n<meta property=\"og:description\" content=\"Zimbabwe has secured US$100 million from the Afreximbank to clear its arrears owed to Mozambique and South Africa power utilities,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/govt-delayed-zesa-holdings-afreximbank-loan-facility-gata\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-26T18:16:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2020\/01\/Hwange-Power-Station-1024x600-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/govt-delayed-zesa-holdings-afreximbank-loan-facility-gata\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/govt-delayed-zesa-holdings-afreximbank-loan-facility-gata\",\"name\":\"Govt Delayed ZESA Holdings-Afreximbank Loan Facility \u2013 Gata - 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