ZESCO Managing Director Victor Mapani has revealed that the company’s debt owed to Independent Power Producers (IPPs) as of October 2023 stood at US$1.1 billion from the US$1.7 billion recorded in December 2021. At a media briefing, Thursday, Mapani said the figure shows that the power utility company had managed to dismantle US$600 million debt owed to IPPs through initiatives such as renegotiated tariffs, among others. “In pursuit of the plan, Zesco has made the following strides towards achieving objectives of the plan and I will mention some of them. When we started, the Independent Power Producers, Zesco owed them $1.7 billion. $1.7 billion energy used up by Zesco but not paid for. So we started on a journey to...