By 
ZESCO Limited has petitioned the Lusaka High Court to place Zambia Electrometer Limited, a company in which it holds a 40 percent shareholding into liquidation over an unpaid debt amounting to over K46 million.
In a winding-up petition filed on June 24, 2025, ZESCO, through its legal counsel, argued that Zambia Electrometer has become insolvent and is unable to meet its financial obligations, including salaries and pension benefits.
Zambia Electrometer was incorporated on June 13, 2007, under the Companies Act No. 10 of 2017. ZESCO, which is both a creditor and shareholder, claims it advanced K46,428,429.00 to the company between 2019 and 2021 to support its operations. However, the amount remains unpaid, prompting ZESCO to initiate legal proceedings.
The power utility company filed a lawsuit on April 18, 2024, seeking a refund of the funds on grounds of unjust enrichment, along with damages for inconvenience, interest, and legal costs.
Judgment was delivered in ZESCO’s favour on June 29, 2024, ordering Zambia Electrometer to repay the full amount plus interest from the date of the writ to the date of judgment, and thereafter at the prevailing Bank of Zambia lending rate.
On November 7, 2024, the Sheriff of Zambia attempted to execute a writ of fieri facias (FiFa) at Zambia Electrometer’s Lusaka business premises, but the enforcement failed as there were no assets of value to seize.
“The respondent is insolvent and unable to pay its debts and it is just and equitable in the circumstances that it be wound up,” ZESCO stated.
ZESCO revealed that the company’s only known asset, its business premises in Ndola is already under a charging order issued by the High Court on June 5, 2023, in relation to a separate judgment debt amounting to $1,288,112.00 under cause No. 2022/HPC/0454.
ZESCO submits that the outstanding K46 million remains unpaid and that the company’s financial status renders it insolvent.
It, therefore, asks the court to order the winding up of Zambia Electrometer Limited in accordance with Section 57(3)(b) and (c) of the Corporate Insolvency Act No. 9 of 2017.
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