Zimbabwe’s state-owned electricity provider has obtained a US$210 million financing agreement from Afreximbank to enhance its power infrastructure and facilitate energy imports.
ZESA Holdings confirmed the deal as concluded during the Intra-African Trade Fair (IATF) in Algiers, The Zimbabwean reports.
The Zimbabwe Electricity Transmission and Distribution Company (ZETDC), a subsidiary of ZESA, has allocated $50 million of the funds to import electricity from Mozambique’s Hidroeléctrica de Cahora Bassa (HCB), as confirmed by ZETDC’s finance director, Fredy Mazana.
A further $50 million will support upgrades to the transmission and distribution network.
The financing will also enable the procurement of materials for transformer manufacturing, with additional support from private-sector suppliers.
ZESA aims to expedite its smart metering initiative, focusing on installing smart meters for high-consumption customers to improve operational efficiency.
To address power outages caused by infrastructure vandalism, ZESA plans to use part of the funds to acquire new transformers and cables, restoring connections for affected customers.
Additionally, the utility will invest in upgrading its Supervisory Control and Data Acquisition system to enhance fault detection and response capabilities.
– Additional source: Pindula News
