ZESA\u2019S audit and risk management committee chairperson, Tichaona Timire, has said the ongoing power cuts are a threat to investment in the country and bemoaned the shortage of foreign currency, which he said is hampering efforts to procure critical equipment to keep the country powered.<\/p>\n
Addressing a Zesa risk management competition awards ceremony in Harare yesterday, Timire said electricity, being the key driver of economic growth should be consistently available to attract investors.<\/p>\n
\u201cSustained energy provision is key in economic growth as investors want to invest in an economy where there is adequate and reliable energy. This is because electricity is the one that drives all economic activities of a nation,\u201d he said.<\/p>\n
Speaking at the same event, Energy and Power Development deputy minister Magna Mudyiwa echoed similar sentiments, saying power cuts were a major threat to economic growth.<\/p>\n
\u201cIt is no secret that electricity is a critical economic enabler,\u201d she said<\/p>\n
Mudyiwa also said the ongoing load-shedding compromise government\u2019s \u201cZimbabwe is open for business\u201d drive.<\/p>\n
\u201cIt threatens to derail our attainment of vision 2030 of an upper-middle income economy. Furthermore, where there is no adequate power, the mantra \u2018Zimbabwe is open for business\u2019 is made hollow,\u201d she said.<\/p>\n
Mudyiwa urged Zimbabweans at large to desist from vandalising Zesa property, adding that last year alone, the power utility lost property worth US$4 million to vandalism.<\/p>\n","protected":false},"excerpt":{"rendered":"
ZESA\u2019S audit and risk management committee chairperson, Tichaona Timire, has said the ongoing power cuts are a threat to investment in the country and bemoaned the shortage of foreign currency, which he said is hampering efforts to procure critical equipment to keep the country powered. Addressing a Zesa risk management competition awards ceremony in Harare […]<\/p>\n","protected":false},"author":84,"featured_media":9282,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,8],"tags":[83,402,582,424],"class_list":{"0":"post-9819","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"category-head-lines","10":"tag-economy","11":"tag-electricity","12":"tag-energy-and-power","13":"tag-investment"},"yoast_head":"\n