NATIONAL Tyre Services Limited (NTS) says tyre retreading volumes declined by 13 percent in the third quarter ended December 31, 2022 as power outages severely affected the company’s factories.
Zimbabwe requires over 2 000 megawatts of power per day with regional imports, which require up to US$17 million per month, compensating for the deficit.
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The country has been supplementing its electricity needs with imports from the region.
In a trading update, the ZSE-listed tyre manufacturing firm said depressed electricity generation during the third quarter of 2022 resulted in increased load curtailment count
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