ZESA postpones AGM date amid major structural changes

Harare – Zimbabwe Electricity Supply Authority (ZESA) has announced the postponement of its annual general meeting which had been scheduled for Wednesday 12 June 2019 to a date to be advised.

In a notice to the public, ZESA said this is “due to some developments within our organisation.”

Last week, Energy and Power Development Minister, Fortune Chasi fired the entire ZESA board on grounds of “incompetence” and failing “to appreciate the urgency of the situation we are in” according to the Minister’s words.

The decision to postpone the meeting is likely to give room for the appointment of a new executive board. The Energy Minister has however, expressed that he would not rush to appoint a new board as long as he will get the right people for the task.

The country is currently battling through a series of serious power cuts, arguably the worst in over a decade’s time due to a combination of low water levels at Kariba dam’s hydroelectric power plant, limited foreign power imports and generation constraints at ageing power stations.

Meanwhile, the country owes external power distributors a hefty debt in the region of US$8O million.

Government is currently negotiating with South Africa’s power utility, Eskom which it owes US$33 million to set up a debt payment as it seeks to strike a deal to import electricity from the neighbouring country to avert the ongoing power shortages.

Equity Axis News

 

Raynold Mhotseka

Raynold Mhotseka is a Journalism and Media Studies student at the University of Zimbabwe. He serves as a news writer at financial research firm, Equity Axis where he is currently on attachment. He can be contacted through the following email links, rayjnr.mhotseka@gmail.com and raynoldm@equityaxis.net.

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