l payment backlogs for imports from South Africa, Mozambique, the Democratic Republic of Congo and Zambia.
The announcement comes amid reports the South African power utility, Eskom, threatens to cut supply to Zimbabwe because of rising debts.
The revelation was made by Energy minister Mike Nyambuya during an interview on Economic Forum with Billet Magara.
The loan is being organized through Standard’s Zimbabwean branch, said Nyambuya. The bank was not immediately available to comment. – Chief Reporter
9.8.2007
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StanChart Bank pays ZESA bill
HARARE
Zimbabwe's embattled power utility will settle US$55 million in arrears to power suppliers and boost power generation with a loan pledged by Standard Chartered Plc.
The Zimbabwe Electricity Supply Authority (ZESA) is set to use the loan, which is still under negotiation, to bankrol