German energy firms eye Zambia

Mon, 12 Feb 2018 09:05:34 +0000

By SANDRA MACHIMA

FIVE top German energy firms are in Zambia to explore ways of investing or exploiting the vast renewable energy sector of the Southern African country, Zambia’s Ambassador to the Federal Republic of Germany Anthony Mukwita has said.

Mr Mukwita said this follows President Edgar Lungu’s bold decision to make the energy sector attractive, adding that was a major opportunity for Zambians in the energy sector to find partners from Germany.

He said Zambia had a power deficit of more than 1000 megawatt, adding there was clearly room for as many partners to come in as possible,”

“Zambia remains more attractive now perhaps than ever before following President Lungu’s brave decision to scrap energy subsidies that kept tariffs artificially low and discouraged investment in the sector, he said.

He noted that there had been a marked interest in investment into Zambia from Germany and other western countries lately since President Lungu increased calls for economic diversification.

This is according to a statement issued by first secretary for press and public relations Kellys Kaunda.

“The German’s in our view and many others from Europe are only in Zambia looking at exploiting the fertile investment opportunities today because the President (Edgar Lungu) pulled the plug off the subsidies that kept tariffs artificially low since independence,” said Mr Mukwita.