Malawi‘s ESCOM overpaid by US$34,494 to Zambia Electricity Supply Corporation (ZESCO) as capital contribution towards Malawi–Zambia interconnector project
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Malawi‘s ESCOM overpaid by US$34,494 to Zambia Electricity Supply Corporation (ZESCO) as capital contribution towards Malawi–Zambia interconnector project By Staff Reporter MALAWI‘S power utility company ESCOM overpaid US$34,494 to Zambia Electricity Supply Corporation (ZESCO), for a capital contribution towards the Malawi–Zambia interconnector project, at a time when ESCOM was nearly insolvent. In April 2018, ESCOM requested a bailout of K53 Billion from Government after undergoing a period of financial distress from around 2016. The request was not granted because Government had earlier on bailed out ESCOM in 2011, 2012 and 2013. In response to Government’s position, the Board of Directors...