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Standard Bank says arranges $120m debt package for Zimbabwe Power Company

Company has been grappling with power and liquidity shortages.

JOHANNESBURG – South Africa’s Standard Bank said on Monday it had finalised a $120 million debt package with the Zimbabwe Power Company (ZPC), which has been grappling with power and liquidity shortages. 

The funds will be used for the rehabilitation of existing power infrastructure at Kariba South Hydro Power Station and Hwange Thermal Power Station, Standard Bank, which was the lead arranger, said in a statement. 

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I hope Zim Power Co can pay you back Standard Bank. Given the current cash crisis I wouldn’t bet on it. Also, doesn’t Zim owe Eskom millions of Rand for electricity already that it is unable to pay? Ah well, let’s hope it is used productively. Poor Zimbos living in that hell hole.

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