Chasi- new broom or just making the necessary initial noises?


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Zimbabwe Energy Minister Fortune Chasi has come out guns blazing, threatening to deny licences to oil companies that are not towing the line and bringing power utility employees who were involved in shady deals to book.

The question, however, is can he turn around this key ministry which has literally brought the country down to its knees with massive load shedding and persistent fuel queues, or is he just making the noises of a minister just put into office who will wither away as he settles down into the gravy train?

The odds are against him. Zimbabwe owes power utility companies Eskom of South Africa and HCB of Mozambique so it cannot import as much power as it wants unless it clears its debts or there is an alternative arrangement.

Zimbabwe also owes oil companies that bring in fuel about US$200 million and so it has to pay cash for all its requirements.

Add to that the speculative behaviour of Zimbabwe business and the cartels in the oil sector, the minister has a tall order.

Chasi has one advantage though. He knows the operations of the central bank somewhat as at one time he was its legal counsel. Maybe some of the senior employees will see him as one of them.


Here is what he said about the fuel industry in the country.

(76 VIEWS)

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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