ZETDC clinches US$210m Afreximbank deal
SAMANTHA MADE
The Zimbabwe Electricity Transmission and Distribution Company (ZETDC), a unit of ZESA Holdings, has struck a US$210m financing deal with Afreximbank to modernise the country’s power network, in a move officials say will bolster electricity supply and efficiency.
ZETDC said the facility will fund upgrades to the national grid, the rollout of smart metering, and measures to curb rampant vandalism.
“A more efficient future is on the horizon,” the company said.
It disclosed that US$50m will go towards power imports while US$5m will be channelled into enhancing the Supervisory Control and Data Acquisition (SCADA) system, which monitors and controls critical power infrastructure.
“With this investment, ZETDC is set to improve electricity supply and efficiency,” the utility added.
Smart meters, the company said, will allow for remote management of electricity usage, promising a more seamless experience for customers.
