Home » Technology » ZIMBABWEAN POWER DISTRIBUTOR OWNED ONE BILLIUON USD BY DEFAULTING CUSTOMERS

HARARE, May 12 — The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) is owned nearly one billion US dollars by its defaulting customers, says Managing Director Julian Chinembiri.

He told the Parliamentary Committee on Mines and Energy here Monday that domestic users alone owed
the power company 299 million USD, or 30 per cent of the total debt, while the mining industry owed 244 million USD, commercial consumers 351 million USD and customers in the agriculture sector owed 75 million USD.

“So what our valued customers owe us is slightly above 997 million USD which is close to a billion,” he said, adding that the major defaulters included local authorities and fertilizer firm Sable Chemicals which owed 194 million USD and 132 million USD respectively.

Parastatals owed 25.8 million USD while government Ministries were indebted to ZETDC to the tune of 1.3 million USD, he said.

“I think you can see from there that ZETDC is under a lot of stress,” he added.

On the other hand, the ZETDC owes domestic and external creditors about 374 million USD.

Chinembiri said revenue collections had improved after the installation of pre-paid metres. At least 539,999 prepaid metres had been installed across the country so far with about 87,539 customers still on the old billing system.

SOURCE: NEW ZIANA

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