Driving Private Sector Investment in Energy

The Zimbabwe-Zambia (Zim-Zam) Energy Projects Summit, taking place in Victoria Falls, is progressing with an engaging third session centered on “Addressing Opportunities Head On – Recognizing the Need for Private Sector-Focused Policies to Successfully Complete Projects.”

Moderated by Snowy Khoza, Non-Executive Senior Advisor of Global Energy Alliance for People and Planet, the session began with Panelists emphasizing the importance of creating an enabling environment for private sector investment in energy projects. They discussed the need for clear, consistent, and supportive policies that can attract private capital and facilitate project implementation. Key topics included debt restructuring and the introduction of policies such as Zimbabwe’s Government Implementation Agreement, which aims to increase investor appetite.

Honourable Minister, Edgar Moyo, Minister of Energy and Power Development, Zimbabwe who was part of the esteemed Panelists. Honourable Moyo revealed that the recent debt restructuring and the implementation of policies, such as Zimbabwe’s Government Implementation Agreement (GIA), have “significantly boosted investor interest in Independent Power Projects (IPPs).” Minister said. He noted that the Government Implementation Agreement offers project development support agreements, power purchase agreements, and guaranteed payments, thereby enhancing the bankability and attractiveness of IPP projects to investors.

In addition, Honourable Makozo Chikote, Minister of Energy, Zambia, emphasized the necessity of adopting policies that support sufficient and reliable energy sources. “We need to bring in policies that attract the private sector and create a conducive environment for private players,” he stated. Minister Chikote highlighted the net-metering system introduced in Zambia, which ensures that people have free participation and an easy way of doing business in Zambia’s major economic sectors.

Honourable Makozo Chikote concluded the panel discussions by emphasizing the need to promote local investment and conduct research in renewable sources of energy to improve the sufficiency of energy sources. “In terms of realizing our policies and walking the talk, we need to up our game in the implementation within Zimbabwe and Zambia’s energy sectors,” Minister Chikote stated.

Tafadzwa G Matsa