Zambia
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Invest in energy sector- stakeholders

Stakeholders have called upon the Zambian government to invest more in the energy sector and improve its infrastructure by 2030.

Energy Expert Bornface Zulu said Zambia has made significant progress in improving access to electricity for its population in recent years, but there is a need for further expansion of the sector.

“To achieve this goal by 2030, Zambia needs to invest in expanding its infrastructure in the energy sector, attract global companies, and adopt renewable energy sources like solar and wind power,” he said.

“Both the government and the private sector need to invest heavily in Zambia’s energy sector.”

Mr. Zulu said, according to Zambia Electricity Supply Corporation (ZESCO), the country needs around 4.5 billion United States Dollars in investments to achieve its electrification targets.

He added that the government and international donors must collaborate to provide the needed funds to achieve this goal by 2030.

“China is very critical to Zambia’s energy sector, with several Chinese companies being involved in power generation, transmission, and distribution,” Mr. Zulu said.

He further said that China has been Zambia’s largest creditor since 2007, with significant investment in infrastructure projects.

Meanwhile, Economist Kelvin Chisanga said the rapid-growing competition in the energy sector is increasing each year, and there is a need to put up key fundamental policies to sustain it.

“There is a slow economic growth pattern, and there is a need to expand the energy policy to make sure we have more investors coming into the sector,” he said.

Mr. Chisanga said there is a need to look at the demand that is being paused as they look at the key fundamental pillars in the economy.

He added that investing in energy projects is justifiable because it will help address the current high demand for electricity in the country.