Zimbabwe Energy Council has urged the government to start channeling foreign currency to Zesa Holdings, the state-owned electricity company, claiming its unit Zent Enterprises has the potential to earn the country $10 million a month through exporting transformers.
According to the energy council secretary-general, Panganayi Sithole, the transformer manufacturer Zent Enterprises has the potential to earn over $10 million monthly on exports of transformers to Zesco of Zambia, DRC, Lesotho, Malawi and South Sudan.
The urge came as Zesa Holdings is failing to pay $43 million to South African power company, Eskom, which has threatened to cut off electricity, which could result in serious load shedding across the country.
Sithole also stressed the issue of support infrastructure, which is lacking. “It is a well-known fact that our transmission system is now obsolete,” he said.
He said attention was drawn to Eskom’s outstanding payments, while there was no conversation on how to raise foreign currency within Zesa itself.
Source: News Day