The re-bundling of Zesa entities has started following the engagement of a consultant to assess the mechanisms available to restructure the power utility.
This was said by Zesa Holdings executive chairman Dr Sydney Gata when he appeared before the Public Accounts Committee today.
Government unbundled Zesa first in 1997 and later in 2006.
The unbundling created five companies namely Powertel Communications, Zimbabwe Electricity and Transmission Distribution Company (ZETDC), Zimbabwe Power Company (ZPC), Zesa Enterprises (Zent) and Zesa Holdings.
Further, Government set up the Rural Electrification Agency (REA) and the Zimbabwe Regulatory Authority (Zera).
Cabinet approved in 2018 the re-bundling of Zesa after realising that its structure was contributing to the increase in costs as executives were getting huge-perks and top of the range vehicles.
Source link : https://allafrica.com/stories/202103160461.html
Author : The Herald
Publish date : 2021-03-16 09:36:23