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Some local companies reportedly partnering with a United Kingdom based firm, Greencrowd Partnership LLP, to create a thriving Electric Vehicle (EVs) ecosystem and the establishment of electric mobility projects initiative in Zambia.
The partnership is also targeting the establishment of the Zambia Green Outcomes Fund (ZGOF) and the Zambia Electric Mobility Innovation Association (ZEMIA).
Zambia is a fertile ground for collaboration and innovation, says Rick Gambetta, Greencrowd Partnership LLP Founder and Partner, in his response to a press query from Zambia Monitor.
Gambetta said that establishment of the fund and association were building blocks for sector-wide collaboration involving non-profit, private and public organizations, that would offer hope for the development of supportive policies and a thriving EV ecosystem.
Firms preparing to launch the ZGOF’s fund are Kukula Capital Ltd, Greencrowd Partnership LLP, Zanaco bank plc, and Wild-Wide Fund (WWF) Zambia.
Gambetta stated that Zambia’s potential for tangible carbon reductions by transitioning from internal combustion engines (ICE) to EVs was significant due to electricity generation mix that was over 85 percent renewable.
“The establishment of ZEMIA for example is an initiative which aims to guide the development of policies and frameworks that will support the growth of electric mobility in the country.
“By bringing together key stakeholders, including government entities, private sector players, and international partners, this association can drive the necessary changes to create an enabling environment for EVs in Zambia,” he said.
Read more: Zambian govt in talks with electric vehicle manufacturers, may ban cars causing pollution soon
Gambetta however pointed out that despite Zambia’s green energy advantage, the country faced obstacles in terms of charging and grid infrastructure and regulatory frameworks.
He stressed the need for Zambia to first address challenges related to charging infrastructure, regulatory frameworks, and grid investments.
Zambia, he said, faced significant challenges in its path towards widespread EV adoption.
According to Gambetta, the underinvestment in grid infrastructure posed limitations on charging infrastructure expansion.
For the decarbonisation of transportation to happen, he said, a holistic approach was needed that looks across both energy and transportation simultaneously.
“Additionally, the current regulatory environment is not fully equipped to support the decarbonization of transportation.
“Furthermore, ZESCO Limited, the state-owned utility, is undergoing a financial turnaround strategy, necessitating careful planning and coordination to ensure the successful integration of EVs into the power grid,” Gambetta said.
On the other hand, Gambetta acknowledged steps taken by the Zambian government to incentivize EV adoption.
“Financial incentives for EVs have been introduced, with customs duties being reduced on electric vehicles and electric motor cycles to 15 percent and 25 percent respectively while Internal Combustion Engine vehicles import duties have remained at 60 percent.
“Efforts to raise consumer awareness about the long-term cost savings and environmental benefits of EVs are also underway,” he said.
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