Zambia’s Minister for Energy, Hon. Makozo Chikote, has held a high-level meeting with a delegation from the International Finance Corporation (IFC), a member of the World Bank Group, to explore opportunities for increased investment in the country’s energy sector.
The IFC delegation, led by Country Manager Madalo Minofu, met with the Minister and senior officials at the Ministry of Energy to discuss strategic areas of collaboration aimed at strengthening Zambia’s energy infrastructure and expanding access to reliable electricity.
Minister Chikote emphasized that continued growth and diversification of the energy sector are critical if Zambia is to meet its key economic objectives, especially in the mining and agriculture industries.
He reaffirmed the Government’s commitment to meeting President Hakainde Hichilema’s directive to add an additional 1,000 megawatts of electricity to the national grid by December 2025.
He further urged the IFC to broaden its investment portfolio to include off-grid and renewable energy solutions to improve electricity access in remote and underserved communities.
The Minister noted that the Government has streamlined regulatory processes to attract new players and create a more competitive and investor-friendly environment in the energy sector.
In her remarks, Ms. Minofu highlighted IFC’s significant contribution to Zambia’s energy sector through the recently launched Kalumbila-Kolwezi Interconnector Project (KKIP) in North-Western Province.
The interconnector is expected to strengthen regional power trade and enhance the country’s energy security.
She reaffirmed IFC’s commitment to supporting Zambia’s energy development but stressed the need for a stable and predictable economic environment to unlock further capital inflows into the sector.
Minister Chikote was accompanied by senior technical experts from the Ministry of Energy, who provided updates on ongoing reforms and opportunities for private sector participation.
Source: https://energynewsafrica.com
Discover more from Energy News Africa
Subscribe to get the latest posts sent to your email.