Zimbabwe just paid off a major old power debt to Zambia. The settlement of the historical Ex-CAPCO debt, stemming from the Rhodesia-era power corporation, was announced during a Zambezi River Authority meeting in Victoria Falls. Key figures included energy ministers, July Moyo of Zimbabwe and Makozo Chikote of Zambia, plus finance ministers Mthuli Ncube and Situmbeko Musokotwane, who joined online. The move is seen as a big step for bilateral relations and regional energy security, coming as better water flow data on the Zambezi River promises more hydropower.
Both nations recommitted to shared energy projects and managing the river. Moyo, set to take over as council chair from Chikote, stressed their power systems are interdependent for economic growth. The outgoing chair, Chikote, pushed for faster work on critical infrastructure to get reliable electricity to each country. The high-level meeting also included attorneys general, permanent secretaries, and the heads of the ZESA and ZESCO power utilities. The debt resolution fuels optimism for deeper cooperation on transboundary water issues and joint development initiatives under the Zambezi River Authority's framework.
Both nations recommitted to shared energy projects and managing the river. Moyo, set to take over as council chair from Chikote, stressed their power systems are interdependent for economic growth. The outgoing chair, Chikote, pushed for faster work on critical infrastructure to get reliable electricity to each country. The high-level meeting also included attorneys general, permanent secretaries, and the heads of the ZESA and ZESCO power utilities. The debt resolution fuels optimism for deeper cooperation on transboundary water issues and joint development initiatives under the Zambezi River Authority's framework.
