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Giving evidence before the House of Assembly Portfolio Committee on State Enterprises and Parastatals yesterday, Zesa chief executive officer Engineer Josh Chifamba said the financial resources directed to debt alleviation would now be channelled to production.
“We owed Hydro Cahora Basa US$100 million and we have managed to clear that and we are trying to ensure that we remain current,” he said.
“We do not owe any of our suppliers at the moment and it explains the improved supplies we have recently had.”
Eng Chifamba said the US$2 million they owed Snell from DRC had been settled in exchange for equipment produced by their subsidiary Zesa Enterprises.
Online Reporter