Zimbabwe: ZESA Enterprises (ZENT-ZESA Holdings' subsidiary) announced it requires at least $ 12 million for recapitalisation.
ZENT, a non-regulated entity, manufactures and repairs transformers for both public and private entities.The company is currently operating at below 20 %, despite securing orders recently.
Loveness Kunaka, ZENT manufacturing divisional manager, said: “We have the capacity to repair transformers, but due to limited resources, we are operating under capacity.“
Fabian Vere, Zent business development and marketing manager, told to the Energy ministery that the money would clear the debts and provide working capital. “We need between $ 10 and $ 12 million to recapitalise operations and that will see improvement on capacity.“ he said.