Romance gone sour? ZESCO sues Zambia Electrometer Limited over K46 million debt

ZESCO Limited has filed a lawsuit against Zambia Electrometer Limited, demanding payment of a K46 million debt.

The power utility has 40 percent shares in Zambia Electrometer Limited, which is engaged in the manufacture and supply of electrical equipment.

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According to a statement of claim filed in the Lusaka High Court, ZESCO contended that it provided financial assistance of K46,428,429, to Zambia Electrometer Limited, for the latter to pay its employees and discharge other expenses.

“The plaintiff shall aver that in or about 2019 the defendant began facing financial difficulties and or stress.The defendant subsequently requested financial assistance from the plaintiff on a regular basis in order to meet some of its operating expenses, primarily employee salaries amongst other things,” it stated.

ZESCO further contended that despite several reminders issued to Zambia Electrometer Limited, the defendant had failed to settle the said amount.

It accused Zambia Electrometer Limited of unjustly enriching itself at the plaintiff’s expense.

ZESCO is demanding payment of the K46 million and damages for inconvenience.

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