Key points
- Operating profit hit US$139.3 million against a US$82.8 million target.
- Total spending ran 22% under budget on lower generation costs and fewer imports.
- Zimbabwe recorded zero load shedding in 2026, with 24 hours of average daily availability.
Power utility ZESA Holdings posted an operating profit of US$139.3 million in the first half of 2026, 68% above its target of US$82.8 million.
Business development manager John Mapani revealed the figures at the Ministry of Energy and Power Development’s Strategic Planning Workshop in Victoria Falls.
He said the turnaround came from strategic power trading, cost containment and effective hydrological management at Kariba Power Station.
“The operating profit of $139.3 million against a target of $82.8 million represents a significant milestone in our journey towards financial sustainability,” he said.
Cheaper imports
Mapani said the gains were largely due to successful trading on the Day-Ahead Market, where ZESA secured an average import tariff of 7.4c/kWh. By comparison, bilateral tariffs were 13c/kWh from Eskom and 12.8c/kWh from HCB and EDM.
Total expenditure came in 22% below budget, mainly from lower generation costs and reduced electricity imports.
Zero load shedding
The efficiency gains reached consumers. Zimbabwe experienced zero load shedding in 2026, and average electricity availability reached 24 hours a day.
That beat the half-year target of 14.9 hours by 61% and compares with 11.75 hours in 2025. System load factor improved to 77.25%, above the 65% target.
Generation performance
Dependable generation capacity was 1,271.5MW against a 1,302.5MW target, a 2.4% shortfall. However, Zimbabwe Power Company output beat targets, with Kariba up 3.86% and the small thermals up 7.16%. Forced outages at Hwange offset part of that gain.
