Currency Dispute Stymies Private Power Industry in Zimbabwe

Source: Currency Dispute Stymies Private Power Industry in Zimbabwe – Bloomberg

 

  • Nyangani says it’s owed $8.6 million by state power company
  • Independent power projects have potential to transform sector

Zimbabwe’s state electricity company is awaiting the outcome of international arbitration in a currency dispute with the country’s biggest private power producer that’s holding up other investments.

Nyangani Renewable Energy Ltd., which operates solar and hydropower plants in Zimbabwe and Malawi, took the Zimbabwe Electricity Transmission Distribution Co. to the Johannesburg branch of the International Chamber of Commerce to rule on the disagreement over a currency conversion agreement.

 

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