Zimbabwe’s financial woes on the increase

SABC News Zimbabwe Dollar R - Zimbabwe’s financial woes on the increase

Zimbabwe’s economic turnaround hopes are dwindling by the day. The country is facing shortages of U.S. dollars, fuel, bread and more than 15-hour power cuts.

Poverty and the unemployment rate have increased since former President Robert Mugabe was ousted in 2017.

The country’s anchor power producer, Kariba Dam, says it risks having to stop production in weeks due to dropping water levels.

Meanwhile, South African power utility Eskom has reportedly received payment for electricity services from the cash-strapped neighboring country. Its reported that 139-million-rand was paid to Eskom after it cut power for long hours in Zimbabwe.

 

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