Zimbabwe hikes electricity tariffs with immediate effect

Zimbabwe has hiked electricity tariffs with immediate effect, Finance Minister Mthuli Ncube said on Thursday, amid severe power cuts that have crippled the already fragile economy.

Ncube said domestic consumers' electricity tariff will now average 3 US cents per kilowatt/hour from 1 US cents. The tariff for non-exporting businesses would average 5 US cents per kilowatt/hour.

Foreign currency earners will be paying for electricity in U.S. dollars, Ncube said.