ZESCO Records Increase in Property Losses From K25.76 Million in 2023 to K42.99 Million in 2024

ZESCO Limited has disclosed that it has recorded an increase in property losses from K25.76 million in 2023 to K42.99 million by quarter three of 2024.

In a statement, Company Spokesperson Matongo Maumbi attributed the loss to theft of cables, fraud, and vandalism of the power installations among others.

Mr. Maumbi revealed that in 2023, ZESCO recorded 3, 968 cases of crimes against its infrastructure with 1, 456 related to vandalism, leading to property loss of K25.76 million.

“A significant portion of these cases, 1,456 incidents were related to vandalism. Theft, fraud, and other crimes like interference with ZESCO’s supply were also prevalent, with the Corporation managing to recover property worth K6.8 million.”

“Despite ZESCO’s proactive efforts, including 384 arrests and 155 convictions, the year ended with substantial losses. These crimes affected the stability of the electricity grid, delayed service delivery, and imposed additional financial burdens on the Corporation,” Mr. Maumbi revealed.

He further disclosed that in the first quarter of 2024, Vandalism cases rose to 450, marking a 12.7% increase compared to the last quarter of 2023, which had 399 cases.

“In total, 1,668 cases of crime were recorded during this period, resulting in the loss of property valued at K 14.74 million, more than triple the loss reported in the last quarter of 2023.

“This quarter saw 958 cases of service cable theft, a growing trend that would continue to haunt the Corporation throughout the year,” he stated.

Mr. Maumbi further attributed the rise in crime to persistent load-shedding and power management challenges, which created more opportunities for thieves and vandals to target ZESCO’s infrastructure, particularly service cables.

He however said the Corporation’s security efforts led to recovery of property worth K2.26 million, arresting 97 suspects, and securing 41 convictions.