BY RAY NDLOVU
CBZ Holdings Ltd., the biggest bank in Zimbabwe, plans to invest two percent of its annual income toward green projects, a first in the southern African nation.
Zimbabwe relies on electricity mainly from its hydro-powered Kariba Power Station and the coal-fired plants in Hwange.
Although with an installed capacity to produce a combined 2,100 megawatts, owing to frequent breakdowns at Hwange, the country has an acute shortage of electricity which results in prolonged power cuts.
When possible, the country meets its power shortfall through imports mainly from South Africa.
The lender’s net full-year interest income tripled to $16,16 billion from $6.15 billion. – Bloomberg