BLANTYRE-(MaraviPost)—The country sole power provider, Electricity Supply Corporation of Malawi (ESCOM) is owing the country’s commercial banks and companies money amounting to K40 billion, MaraviPost has learnt.
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.
Chiwaya attributed the debt to low revenue due to frequent load shedding and also delays by customers to pay bills.
However, he also admitted that corruption is rampant at the institution and that he is ready to fight the vice using the necessary instruments.
“We will use all the laws in Malawi. We will find the root cause to make sure that this thing goes away. It’s like cancer, it’s very embarrassing. But we have put all the challenges that we have to the minister and also outline strategies to make sure that ESCOM now is going the right direction,” said Chiwaya in an interview with Zodiak.
Kambala has tasked officials at the energy supplier to provide a detailed report on how the debts came about.
“I would want to urge ESCOM management that they need to give us information for us to know why they are in this situation, because we have noted that the reason could also be because they have not managed the resources prudently.
“So before we can assist we would want their plans on how they will become prudent this time. There has been loss of a lot of resources because of corruption. We want to make sure that management promises that this time around they will be prudent enough to make sure whatever resources we would assist with as government is well looked after,” said Kambala.
The revelation of the shocking huge debt comes few days after a another shocking revelation that people, mostly members of the Democratic Progressive Party and others connected to the party in one or another, have been drining fuel worth millions of kwacha from Escom without any service rendered.
Meanwhile, the Anti-Corruption Bureau is investigating the matter.