We have not received any money from Zim - Eskom

accreditation

Eskom said in a statement on Friday that it was yet to receive any money from Zimbabwe as of 15:00 on Friday.

Fin24 reported on Monday that the Zimbabwe government said it would this week pay US$10m to Eskom as part of plans to unlock at least 400MW to ease power shortages in the country.

Zimbabwe, which according to power utility Zesa was producing 1200MW as of Sunday, needs at least 1700MW per day to meet demand. Over the years it has relied on Eskom and Mozambique's HCB for additional power.

However, a combined debt of US$83m to the two entities had meant limited supply of just 50MW from each.

"We will be paying Eskom US$10m this coming week, Finance Minister Mthuli Ncube told an informal media briefing Sunday.

Eskom group CEO Phakamani Hadebe, however, indicated in the latest statement that only once Eskom has received the funds, will it then enter into further discussions with Zesa.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
Rand - Dollar
16.08
-1.0%
Rand - Pound
19.85
+0.2%
Rand - Euro
16.84
-0.3%
Rand - Aus dollar
11.18
-0.1%
Rand - Yen
0.13
-2.0%
Gold
1,816.59
+0.1%
Silver
21.40
-1.1%
Palladium
2,006.50
-2.4%
Platinum
938.25
-1.9%
Brent Crude
111.93
-2.1%
Top 40
62,494
-0.9%
All Share
69,083
-0.9%
Resource 10
71,795
-1.4%
Industrial 25
76,804
-1.3%
Financial 15
16,026
+0.8%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot