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Three cabinet ministers have engaged local energy sector investors as Zambia finalises preparations for the Africa Heads of State Summit set for January 27-28, 2025, in Dar es Salaam, Tanzania.
The meeting, attended by Energy Minister Makozo Chikote, Finance Minister Situmbeko Musokotwane, and Foreign Affairs Minister Mulambo Haimbe, focused on mobilising private sector participation to secure financing for energy projects under Zambia’s proposed Energy Compact.
Minister of Energy, Makozo Chikote, revealed that Zambia’s Energy Compact, to be presented at the summit, includes projects initiated by both the public and private sectors.
The minister said this in a statement issued in Lusaka on Tuesday.
He said these projects were aimed to enhance power generation and ensure universal access to energy.
“The private sector has the capacity to contribute to our energy goals but faces financing challenges, which is why their involvement in the summit is critical,” Chikote said.
He emphasized reforms aimed at boosting private sector participation, including Open Access, Net Metering, and independent power generation.
Finance Minister Musokotwane encouraged private sector players to take advantage of streamlined licensing processes and other government reforms designed to attract investors.
“The government has made the licensing process more efficient to encourage participation. We also invite private sector input on tax incentives to address any concerns,” Musokotwane stated.
He called for teamwork and regular consultations between the government and energy stakeholders to address sector challenges.
Foreign Affairs Minister Mulambo Haimbe assured private sector investors of government support in facilitating their participation in the Dar es Salaam summit, describing it as a crucial platform for investment.
According to Ministry of Energy Principal Public Relations Officer Bob Sianjalika, energy sector players commended the government for expediting licensing processes and involving them in preparations for the summit.
The Africa Heads of State Summit, an initiative of the World Bank and the African Development Bank, aims to increase electricity access for over 300 million people across Africa by 2030.
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