Central SA
Lesotho may see water revenue and undersea cable share seized─── 09:55 Wed, 26 May 2021
Lesotho faces losing revenue from water and power sales to South Africa and may see its share of an undersea communications cable seized after it breached the terms of a contract with Frazer Solar GmbH, Bloomberg reports.
Under a global enforcement order, following the award of $61 million in damages in an arbitration case in South Africa, Frazer said in a statement that it has taken legal action to seize royalties that would be paid to Lesotho’s government by the Trans-Caledon Tunnel Authority, as well as payments for power from Eskom.
It has also had Lesotho’s share in the Mauritius-based West Indian Ocean Cable Company provisionally seized.
Moneyweb
