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Zimbabwe quadruples electricity prices amid blackouts by Kwanza: 12:10am On Oct 10, 2019
•The country is experiencing its worst economic crisis in a decade, recalling days of hyperinflation under Robert Mugabe.

Zimbabwe has raised its average electricity tariff by 320 percent to ramp up power supplies at a time of daily blackouts but the move will likely anger consumers already grappling with soaring inflation and stagnant wages.

The southern African country is experiencing its worst economic crisis in 10 years, seen in triple-digit inflation, 18-hour power cuts and shortages of US dollars, medicines and fuel that have evoked the dark days of the 2008 hyperinflation under late President Robert Mugabe.

Wednesday's was the second increase in the price of electricity inside three months and follows sharp rises in fuel and basic goods prices in the last week. Salaries have not kept pace, prompting citizens to blame President Emmerson Mnangagwa's policies for the crisis.

The Zimbabwe Energy Regulatory Authority (ZERA) said it had approved an application by Zimbabwe Electricity Transmission and Distribution Company (ZETDC) to raise the tariff to 162.16 cents ($0.11) from 38.61 cents.

ZERA said the tariff rise was necessary after inflation soared - the International Monetary Fund (IMF) says it was about 300 percent 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.

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.

Consumers 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".

The new tariff would allow ZETDC to raise money to repair its generators, as well as pay for imports from South Africa's Eskom and Mozambique which cost $19.5m every month, the regulator said.

Hopes that Zimbabwe's economy would quickly rebound under Mnangagwa, who took over after the late Robert Mugabe was deposed in a coup in November 2017, have faded fast as ordinary people grapple with eye-watering inflation that has eroded earnings and savings.

On Monday, treasury data showed the economy was worse off than initially thought. It is now projected to contract by up to six percent this year due to the power cuts, which have hit mines, industry and homes and an El Nino-induced drought that has left the country needing to import food.

Mnangagwa, whom critics accuse of lacking commitment to political reforms and using his predecessor's heavy-handed tactics to stifle dissent, has pleaded for time and patience to bring the economy back from the "dead."

https://www.google.com/amp/s/www.aljazeera.com/amp/ajimpact/zimbabwe-quadruples-electricity-prices-blackouts-191009095646975.html

2 Likes 1 Share

Re: Zimbabwe quadruples electricity prices amid blackouts by roxey: 12:33am On Oct 10, 2019
So Zimbabwe has got to a point where they experience 18hour power outage........wait r they complaining about that one? shocked

7 Likes 1 Share

Re: Zimbabwe quadruples electricity prices amid blackouts by YOUNGELDER1(m): 12:37am On Oct 10, 2019
18 hours shocked
Re: Zimbabwe quadruples electricity prices amid blackouts by Oblongata: 5:11am On Oct 10, 2019
Even though Robert Mugabe has died his manhood still lives on in Zimbabwe grin

18 Likes

Re: Zimbabwe quadruples electricity prices amid blackouts by Nobody: 5:12am On Oct 10, 2019
No one should praise phcn here o please.

Before they change their style
to another style
Zimbabwe style
and be like that
be like that
grin

32 Likes

Re: Zimbabwe quadruples electricity prices amid blackouts by b0rn2fuck(m): 5:14am On Oct 10, 2019
As if Nigeria even have light in first place since 1960

1 Like 1 Share

Re: Zimbabwe quadruples electricity prices amid blackouts by crackhouse(m): 5:14am On Oct 10, 2019
Wickedness.
Re: Zimbabwe quadruples electricity prices amid blackouts by HaryoBamex(m): 5:15am On Oct 10, 2019
Make Dem go buy generator na.

1 Like

Re: Zimbabwe quadruples electricity prices amid blackouts by obembet(f): 5:16am On Oct 10, 2019
18hrs.come to Nigeria.. In some area in PHC, we don't even see it as bad thing anymore. Light dey, light no dey, life goes on. There some week we don't see light at all

25 Likes

Re: Zimbabwe quadruples electricity prices amid blackouts by Raphsays: 5:17am On Oct 10, 2019
Africa, Africa eh!
Re: Zimbabwe quadruples electricity prices amid blackouts by Badmod: 5:17am On Oct 10, 2019
Black man country...
The government obviously needs money..
The lazy government won't think about working his own ass,they just force dumb taxation on the masses without critic thinking of the adverse effect.
Nigeria as a case study...we have all this land and we can't make use of it...one dumb man thinks about how the government will make more money and they're talking about taxing calls,cable T.V and other rubbish things...
Yet,it's okay for senators to use 50BN for Suv's.
To make money is easy,but the government consist of typical black men..Laziness runs in our vein.
Everyday,they're increasing custom duties and charges at the port...If the early government didn't build a port what will you be leveraging on now?
Imagining if FG has farm in the 36 state of the country...farm running like private entity..worth like 30bn per state...
How much money will that generate?
How much food will we be exporting?
How many people will be gainfully employed and also paying tax?
Let's talk about indirect jobs and all...
But instead the government be thinking of extortion.
Sometimes I tire for our matter.

21 Likes 1 Share

Re: Zimbabwe quadruples electricity prices amid blackouts by UnknownJr: 5:17am On Oct 10, 2019
Ordinary 18 hours.

Tch, some places in Nigeria never see light for some months and nepa still dey bill them.

1 Like

Re: Zimbabwe quadruples electricity prices amid blackouts by alphaNomega: 5:18am On Oct 10, 2019
Zimbabwe is the final boss in the African shitholè rankings

1 Like

Re: Zimbabwe quadruples electricity prices amid blackouts by Jabioro: 5:22am On Oct 10, 2019
Zimbabwe should be annexed by nearby country..to save life of citizen....

1 Like 2 Shares

Re: Zimbabwe quadruples electricity prices amid blackouts by EgunMogaji2: 5:26am On Oct 10, 2019
I’ve said it before and I’ll say it again, much to the chagrin of some droopy armed triglodytes on here, Nigeria is not the worst country on earth.

She can be better but she’s okay.

6 Likes 1 Share

Re: Zimbabwe quadruples electricity prices amid blackouts by Tweetums(f): 5:27am On Oct 10, 2019
Hmmm, Make una adapt sharply... Come ask Nigeria to tell the correct story
Re: Zimbabwe quadruples electricity prices amid blackouts by braveboy64(m): 5:29am On Oct 10, 2019
Wetin concern Nigerians about other people's ELECTRICITY?
WE GET?

3 Likes

Re: Zimbabwe quadruples electricity prices amid blackouts by amazon14: 5:42am On Oct 10, 2019
What's the deferent between Nigeria and Zimbabwe power supply?

No deference.
Re: Zimbabwe quadruples electricity prices amid blackouts by Esseite: 6:03am On Oct 10, 2019
Electricity from N9 to N39 with constant 5hr electricity..

Well, they knew what they had before, it's a norm here.

1 Like

Re: Zimbabwe quadruples electricity prices amid blackouts by Kendumazy(m): 6:21am On Oct 10, 2019
Ok
Re: Zimbabwe quadruples electricity prices amid blackouts by PureGoldh(m): 6:23am On Oct 10, 2019
Noted...what a drastic increase undecided

Where in Nigeria can one boast of 12hrs uninterruptible power supply ? cool yet we pay heavily per monthly/annually
Re: Zimbabwe quadruples electricity prices amid blackouts by dreu2fine(m): 6:24am On Oct 10, 2019
Make Nigeria supply dem light
Re: Zimbabwe quadruples electricity prices amid blackouts by kenbee(m): 6:33am On Oct 10, 2019
What is wrong with the Black race?

1 Like

Re: Zimbabwe quadruples electricity prices amid blackouts by ubox: 6:46am On Oct 10, 2019
PureGoldh:
Noted...what a drastic increase undecided

Where in Nigeria can one boast of 12hrs uninterruptible power supply ? cool yet we pay heavily per monthly/annually
Some parts of Uyo, minimum of 20hrs in a day, haven't bought diesel in a month now cos of the constant light.

4 Likes

Re: Zimbabwe quadruples electricity prices amid blackouts by PureGoldh(m): 6:47am On Oct 10, 2019
ubox:

Some parts of Uyo, minimum of 20hrs in a day, haven't bought diesel in a month now cos of the constant light.

Shey you dey whyne me abi? undecided
Re: Zimbabwe quadruples electricity prices amid blackouts by SavageResponse(m): 6:49am On Oct 10, 2019
This country is always in the news for the wrong reasons
Re: Zimbabwe quadruples electricity prices amid blackouts by kelz991: 6:56am On Oct 10, 2019
dreu2fine:
Make Nigeria supply dem light

Make Nigeria supply dem darkness u mean...

2 Likes

Re: Zimbabwe quadruples electricity prices amid blackouts by mudiana(m): 6:58am On Oct 10, 2019
If Bedc gives 6 hrs of power in 24 hours isn't that 18 hrs of blackout
Re: Zimbabwe quadruples electricity prices amid blackouts by enshi(m): 7:03am On Oct 10, 2019
The grass is not always greener on the other side...
You guys fell for the smartness of the west , you let Mugabe go and now you have realized it was all prank...
Well Here in Nigeria we did the same mistake though

1 Like

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