Zambia Development Agency (ZDA) Director General, Albert Halwampa has announced that Zambia will from February 2nd to 5th host the Continental Energy and Infrastructure Investment Forum (CIF), marking the first time the forum is being held outside the Republic of South Africa. Mr Halwampa says the hosting of the forum is a major milestone that reflects Zambia’s growing regional and global investment profile and the country’s readiness for accelerated economic growth. He has noted that South Africa remains a key trade and investment partner and that CIF will provide an important platform to deepen cooperation in sectors such as energy, infrastructure, mining and agriculture.
The ZDA Director General said the energy sector will take centre stage at the forum, following the recent drought which exposed Zambia’s energy deficit. “We currently have over 10,000 megawatts of power projects seeking financing and the forum provides a timely opportunity to connect independent power producers with financiers, including the Development Bank of South Africa, to unlock financial closure,” Mr Halwampa said. He indicated that Zambia is also pursuing a major expansion in renewable energy, particularly solar and wind, to boost generation capacity.
Mr Halwampa further explained that Zambia aims to increase installed power generation from 3,800 megawatts to 10,000 megawatts, leaving a gap of 6,200 megawatts which requires urgent investment. He emphasised that the forum is focused on delivering tangible deals and transactions, particularly in the energy sector, where several power purchase agreements are already in place and only require financial closure. Mr Halwampa said Zambia’s improved macroeconomic environment has strengthened investor confidence, citing single-digit inflation, a stable and predictable exchange rate, and appreciating Kwacha following the successful debt restructuring process.
Read Full Article on Lusaka Times
[paywall]
“Zambia offers a stable and predictable policy environment, political stability, strategic regional location, and an investor-friendly regime that allows full repatriation of profits, and we stand ready at ZDA to support investors at every stage,” he said. And speaking at the same briefing, the South African Electrotechnical Export Council (SAEEC), Chief Executive Officer Chiboni Evans, said the Batoka Gorge Hydro Project is a clear demonstration of Africa’s growing capacity to finance and implement large-scale infrastructure projects.
[/paywall]
