ZESCO ON TRACK TO CLEAR DEBT TO INDEPENDENT POWER PRODUCERS BY 2026
By Chamuka Shalubala
Zesco limited managing director Justin Loongo says the power utility is on course to fully dismantle its debt to Independent Power Producers-IPP’s by next year.
In an interview with Phoenix news, Mr. Loongo says Zesco is following a structured payment plan agreed upon with the various IPP’s, and remains committed to clearing the outstanding obligations within the set timeframe.
Mr. Loongo has emphasized the company’s commitment to settling its liabilities on schedule despite not disclosing the exact figure of the debt.
He adds that eliminating the debt will significantly improve Zesco’s credit profile and restore confidence among power producers, an essential step toward attracting future investment in Zambia’s energy sector.
PHOENIX NEWS