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A team of experts from Toyota Motors Corporation in Japan has arrived in Zambia to explore potential investments in the country’s energy sector, according to Commerce, Trade, and Industry Minister Chipoka Mulenga.
Mulenga revealed that the team’s visit follows a request made by President Hakainde Hichilema during his visit to Toyota’s headquarters in Japan last month, where he explored opportunities for investment beyond the automotive sector, particularly in energy and pharmaceuticals.
Speaking on ZNBC’s Sunday Interview, Mulenga explained that the team is currently engaging with ZESCO and other government agencies.
“As we speak, the Toyota energy experts are in Zambia holding discussions with ZESCO and government agencies. They will quickly conduct a feasibility study to assess how they can significantly invest in this sector, with the goal of achieving energy sufficiency for Zambia in the next four to five years,” he said.
During his Japan visit, President Hichilema also urged Toyota Tsusho Corporation to expedite feasibility studies for the proposed photovoltaic (PV) solar power station in Zambia.
He emphasized the government’s commitment to diversifying energy sources beyond hydroelectric power.
“The New Dawn administration has implemented reforms to open the energy sector to private investment, recognizing energy as a critical driver of economic growth and industrial production,” Hichilema stated.
He further encouraged Toyota to capitalize on Zambia’s favorable investment climate, abundant natural resources, and mineral wealth by investing in value-added ventures that would support the company’s supply chain.
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