ZETDC insolvent, seeks govt bailout

THE Zimbabwe Electricity Transmission and Distribution Company (ZETDC) is technically insolvent and owes more than $1 billion, which is more than the amount it is owed, managing director Julian Chinembiri said yesterday.

The company is owed close to $1bn and has taken some defaulters to court.

Speaking at a breakfast meeting in Harare yesterday, Chinembiri said the company required a bailout from government.

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