Zimbabwe has paid off all its debts to Eskom and is now in a position to negotiate for a new deal, the country’s Minister of Energy, Fortune Chasi, tweeted on Monday evening.
Eskom in the past threatened to cut off electricity supplies to Zimbabwe after its debt reached $33 million. In August 2019 a deal was reached for partial payments of $890 000 per week towards the settlement of the debt.
“Hard to believe but ESCOM (ESKOM) has, in fact now been paid off. Eskom was paid the last US$890,000.00 for imports during this week. This means ZESA can now negotiate for additional supplies if available,” tweeted the minister.
He added that “attention now turns to HCB of Mozambique which at one time was owed US$51m”.
HCB is a reference to Hidroeléctrica de Cahora Bassa, a hydroelectric power producer.
Hard to believe but ESCOM has, in fact now been paid off. • Eskom was paid the last US$890,000.00 for imports during this week. This means Zesa can now negotiate for additional supplies if available. Attention now turns to HCB ( Mozambique).
— Fortune Chasi (@fortunechasi) March 30, 2020
Eskom spokesperson Sikonathi Mantshantsha confirmed the development. He said Zimbabwe had settled its historical obligations.
“Eskom can confirm that Zimbabwe’s historical has been settled. ZESA’s account is now current.
“Eskom is highly appreciative of the current leadership of ZESA, particularly the late Patrick Chivaura, whose integrity and sense of duty led to this great position in which this account is current for the first time in decades,” said Mantshantsha in response to a request from Fin24.