African Future, 27 August - Zimbabwean president Robert Mugabe has announced the renewal of oil trade deal with Equatorial Guinea.

The renewal followed the expiry of an agreement on the importation of oil from Equatorial Guinea.

“The agreement with Equatorial Guinea which had expired has been renewed and we expect to resume imports soon to alleviate shortages currently being experienced," announced president Mugabe, saying the deal would boost the government's frantic efforts to alleviate short supply of electricity.

Mr. Mugabe's administration signed an agreement with Namibia’s NamPower power company for the refurbishment of the country's Karaiba power station.

In return for its investment in the refurbishment, the Nambian energy giant will control 40% of the power generated from the station.

Zimbabwean government has been concerned about the effect of frequent power cuts on the economy and citizens. It is also trying to acquire alternate energy sources such as solar and methane gas.

By staff writer

© afrol News

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