New energy minister for Zimbabwe as load shedding continues

Zimbabwean President Emmerson Mnangagwa has announced the appointment of Deputy Minister of Transport, Fortune Chasi, as the new minister of energy, as the country continues to face rotational power cuts and fuel shortages. 

Former Minister of Energy Joram Gumb has been reassigned to a newly created position in the president's office.

Zimbabwe started implementing planned load shedding on Monday, given low water levels at the Kariba Dam's hydroelectric power plant, generation constraints at local power stations and limited foreign imports. The country is also facing fuel shortages.

Gumbo had repeatedly blamed fuel shortages on the limited availability of foreign currency, saying this meant the country could not meet its import requirements for both diesel and petrol.

Zimbabwe imported $36.4m worth of petrol and $60.6m worth of diesel in February, but this fell short of requirements.


ZAR/USD
16.48
(-1.24)
ZAR/GBP
21.21
(-0.72)
ZAR/EUR
19.45
(-0.83)
ZAR/AUD
12.00
(-1.09)
ZAR/JPY
0.16
(-1.58)
Gold
1935.68
(-0.62)
Silver
26.39
(-1.22)
Platinum
923.00
(-0.64)
Brent Crude
43.55
(0.00)
Palladium
2341.00
(-0.32)
All Share
53120.15
(-2.84)
Top 40
48951.78
(-2.87)
Financial 15
9495.66
(-3.51)
Industrial 25
71177.61
(-1.90)
Resource 10
53327.49
(-3.81)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1313 votes
It depends on how the funds are used.
73% - 8654 votes
No. We should have gotten the loan elsewhere.
16% - 1906 votes
Vote