Zimbabwe quadruples electricity prices amid daily blackouts

Zimbabwe quadruples electricity prices amid daily blackouts | @Fin24

2019-10-10 11:15:00 AM

Zimbabwe quadruples electricity prices amid daily blackouts | Fin24

The country is experiencing its worst economic crisis in a decade, recalling days of hyperinflation under Robert Mugabe.

ZERA said the tariff rise was necessary after inflation soared - the International Monetary Fund (IMF) says it was about 300% in August. Zimbabwe introduced an interim sovereign currency - the Real Time Gross Settlement dollar or Zimdollar - in February which quickly fell prey to black market speculation. 

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In an effort to support the Zimdollar, the government in June outlawed the use of foreign currencies in local transactions. But the move failed to curb the Zimdollar's slide. More price hikesConsumers seem set for more price increases after the energy regulator said that, starting November, the power utility would index its tariff to the US dollar to enable it"to recover from inflation and exchange rate changes".

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Fin24 They have land Fin24 I think I love being a South African right now Fin24 My heart is sinking in my shoes for Zimbabwe 💔 The instrument and symbol of a man making a fool of himself to save his wreck of a country. Fin24 Julius_S_Malema How Zimbabwe enjoying the legacy of your recently deceased hero and his beloved party?

Fin24 But they have land...maybe they can grow electricity? 😂 Fin24 Fin24 More praise little Malema? Quiet in this one🤣🤣🤣🤣 Fin24 They have the land. Fin24 So they overcharching Zimbabwe in order for SA not to experience power cuts...? Fin24 Once again due to incompetent greedy leader's the people must suffer. And as usual it's the poor who suffer the most. The rich will always get richer and the poor will always get poorer.

Fin24 what a f***ing joke of a country. Too bad the disease has spread here and we are next. Fin24 That's why people are stealing cellphone tower batteries from SA and takin them there..😕 Fin24 Can we still say that Mnangagwa is doing well for Zim? Fin24 That is what Socialism brings to the table.

Zimbabwe quadruples electricity price as crisis deepensZimbabwe on Wednesday quadrupled electricity tariffs amid crippling power shortages which have plunged parts of the country into darkness for up to 18 hours a day and forced businesses to operate at night. Zimbabwe wants all Zimbabweans out of Zim basically. Take a hard look at Zim, this is what people voted for so they must be happy, tell me again what has the ANC done to improve the lives off South Africans. Keep on voting this corrupt, Godless thief's into power and this SA will become ZIm, take a hard look and let it sink in.

Zimbabwe quadruples electricity prices, pummelling impoverished consumersHopes that Zimbabwe's economy would quickly rebound under Mnangagwa, who took over after the late Robert Mugabe was deposed in a coup in 2017, have faded fast as ordinary people grapple with soaring inflation which has eroded earnings and savings. Bruh. A party whose cadres were trained by North Korea is hardly going to produce economic genius or ethical governance. Sophie_Mokoena Rebound!! that is a strong language Boss Unathi_Kwaza You can rig elections but you cannot rig the economy. Simple

Prepaid electricity meters in Mpumalanga not certified by SABSFor the past couple of months, residents have complained about units disappearing, an increase in electrical usage, and faulty meters not taking bought tokens.

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Blackout | Mail & Guardian

Snakebites, theft and assault short-circuit green power developmentSub-Saharan Africa is a key market for new electricity, but hurdles are making project development on the continent challenging If u cant take the african heat stay out of the kitchen my friends