Scrapping Of Multi-currency Regime Threw ZESA Plans Into Disarray

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Scrapping Of Multi-currency Regime Threw ZESA Plans Into Disarray

The Zimbabwe Electricity Supply Authority (ZESA) said that it will engage the government in a bid to generate its own foreign currency from exporters so that it can import power.

ZESA acting chief executive, Patrick Chivaura said that the promulgation of Statutory Instrument 142/19 clashed with the power utility’s plans.

Addressing the Daily News Breakfast Meeting on Monday, Chivaura said:

I have had a clash with Statutory Instrument (SI) 142 because just recently we were told at a strategy workshop by our permanent secretary that there is no foreign currency for ZESA at the Reserve Bank of Zimbabwe.

We were then urged to devise ways to raise our own foreign currency and embarked on that exercise by sourcing for support from exporters to provide us with the foreign currency.

While the exercise was underway with many exporters expressing their commitment to avail the foreign currency which we were going to use to import more electricity, the SI came and banned multi-currency use.

However, it is not the end as we still hope to engage authorities over the matter.

More: New Zimbabwe



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