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The Zambian government has announced that Indeni Energy requires approximately US$250 million to become fully operational, with US$100 million needed for working capital to procure fuel and US$150 million for capital expenditure.
Energy Minister, Makozo Chikote, said the funds would support the establishment of an ethanol distillery and a loading gantry to enhance fuel distribution.
In a statement issued in Lusaka on Tuesday, Chikote said Indeni Energy was actively exploring favorable funding models to secure this capital.
He described the company’s transformation into an Oil Marketing Company as a pivotal development in Zambia’s petroleum sector.
“The diversification of importation channels has strengthened Zambia’s fuel supply chain, ensuring a more resilient and reliable system,” Chikote said.
Read More: Indeni says plans on to expand into retail petroleum market
He emphasized that the transition would boost energy security, attract investment, create jobs, and support economic growth.
“For the people of Bwanamukubwa Constituency in Ndola, this shift brings new opportunities, revitalizing local businesses and promoting sustainable development,” he added.
Chikote reaffirmed government’s commitment to ensuring efficiency, stability, and long-term benefits for all Zambians.
“This transition marks a significant step toward a more competitive, cost-effective, and energy-secure future for our nation,” he said.
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