ZESA Holdings recorded an operating profit of US$139.3 million in the first six months of 2026, surpassing its target by 68 percent as improved power trading and tighter expenditure controls boosted its financial performance.
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Read E-PaperThe figures were presented by the utility’s business development manager, John Mapani, during the Ministry of Energy and Power Development’s Strategic Planning Workshop in Victoria Falls.
Mapani attributed the performance to strategic electricity imports, reduced operating costs and effective water management at Kariba Power Station.
He said ZESA’s operating profit exceeded the projected US$82.8 million, marking progress towards improving the utility’s financial position.
The power utility also benefited from trading on the Day-Ahead Market, where it secured electricity imports at an average tariff of 7.4 US cents per kilowatt-hour. This was lower than the bilateral rates of 13 US cents per kWh from Eskom and 12.8 US cents per kWh from HCB and EDM.
Expenditure was 22 percent below budget, largely due to lower electricity generation costs and reduced spending on power imports.
The improved performance coincided with better electricity availability across the country, with Mapani reporting that Zimbabwe had experienced no load shedding in 2026.
Average power availability reached 24 hours per day, exceeding the target of 14.9 hours by 61 percent. This was an improvement from the 11.75 hours recorded in 2025.
Mapani said the country’s improved electricity supply reflected increased generation and strategic power imports. He added that the system load factor rose to 77.25 percent, above the targeted 65 percent.
Despite the positive results, dependable generation capacity fell slightly below expectations, reaching 1,271.5 megawatts against a target of 1,302.5MW.
Zimbabwe Power Company’s generation performance was mixed, with Kariba Power Station exceeding its target by 3.86 percent, while small thermal power stations performed 7.16 percent above target.
The gains helped offset lower-than-expected output at Hwange Power Station, where forced outages affected generation.
