ZESCO MANAGING DIRECTOR DATES PRESS, HIGHLIGHTS STRATEGIC PLAN PERFORMANCE
Some insights and performance highlights of the national power utility’s 10-year rolling strategic plan (2022-2031).
The main highlights include reduction of the debt ZESCO owes Independent Power Producers (IPP) and subsidiary companies from US$1.7 billion to US$1.1 billion as at October 2023; advancement of the Chama-Lundazi Grid Connection project whose cost was reduced from US$69 million to below US$ 30 million with the same scope.
Phase one of the project is expected to be commissioned by 13 December 2023. The Managing Director also provided a comprehensive update on the solar energy projects the company is pursuing with different partners.
To achieve financial sustainability, Eng. Mapani reported a saving of up to USD$11.6 million in ICT contract optimization where most ICT contracts were converted to internal initiatives in pursuit of its digital transformation journey. Successful enforcement of the directive on responsible and efficient use of the transport resource and termination of high rental office buildings are some of the operational cost containment measures positively impacting ZESCO’ financial position.