Zimbabwe seeks $4.5 billion to boost power supply

CAPE TOWN (Reuters) – Zimbabwe needs to invest at least $4.5 billion to boost its power supply capacity by 7,500 megawatts by 2015, the Chief Executive of state-owned utility Zesa said on Wednesday.

Ben Rafemoyo, the chief executive of Zesa said the utility would seek to raise the funds through tariffs and the support of international agencies, but is also trying to attract independent power producers.

"There has been renewed excitement out there and investors have told us that they are willing to come in … it’s just a matter of time, but of course the financial crisis has created an additional challenge," he told Reuters in an interview.

Zimbabwe currently produces around 1,000 MW, although its demand at peak time reaches around 2,200 MW, forcing the country to import from its neighbours.