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*ZESA Secures US$110 Million Afreximbank Financing Deal*
https://www.pindula.co.zw/2021/11/21/zesa-secures-us110-million-afreximbank-financing-deal/popular/?article

The Zimbabwe Electricity Transmission and Distribution Company (ZETDC), a ZESA Holdings subsidiary responsible for the distribution of power, has signed a US$110 million syndicated loan with continental trade finance bank Afreximbank, the bank said on Friday. The bank said in a statement:

_The funds will help Zimbabwe Electricity Transmission and Distribution Company (ZETDC) to improve revenue collection through smart meters and pre-paid meters and thus pay off regional creditors’ accounts._

ZESA Holdings executive chairman Sydney Gata on Friday revealed that the power utility is owed a staggering ZWL$15 billion in unpaid bills by businesses, government departments and ordinary consumers.

Many electricity users in Zimbabwe are on a post-pay system and rack up large debts, which is bad for ZETDC’s books and hurts its ability to supply power.

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Meanwhile, Afreximbank said it had signed financing deals worth another US$78 million with three other Zimbabwean companies – the Central African Building Society, CBZ Bank and ZB Bank – at a trade fair in the South African port city of Durban.

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