ESCOM Owes Commercial Banks K40 Billion
Published on July 21, 2020 at 10:06 AM by Flora Mitumba
The country’s sole power provider Electricity Supply Corporation of Malawi (ESCOM) is owing Commercial Banks and companies money amounting to K40 billion.
According to ESCOM’s CEO Alexon Chiwaya, the debt dates back to last year.
This was revealed during a familiarization tour which Energy Minister Newton Kambala had at the institution’s Chichiri power station.
Kambala has tasked officials at the energy supplier to provide a detailed report on how the debts came about.
