By KALOBWE BWALYA
THERE is need to find ways of financing Zesco to solve its many challenges and improve the financial liquidity of the utility, energy expert Johnson Chikwanda has advised.
Mr Chikwanda said it is almost impossible to remove some perennial costly challenges at Zesco without government support.
He said in an interview there is no doubt the biggest threats Zesco faces are manmade, with well-known solutions, but these solutions require Government support.
Mr Chikwanda noted that the other threat that the power utility face is due to climate change which affects water levels and reduces the amount of electricity produced and this affects revenue.
Mr Chikwanda said the task for the new board is to accelerate the commissioning of the remaining units at Kafue Gorge Lower so that the country starts harvesting all the 750 mega watts to start exporting a significant amount of power.
He said the other significant task ahead of the new board is to actualise the Presidential guidance of introducing financial and structural reforms at Zesco, adding that the company is owing US$3billion.
He said the new board has assumed office at a time Zambia has been repositioned to become a significant exporter of electricity.
“In 2017, a task force was appointed and submitted its report to cabinet office, therefore it would be prudent to revisit the report findings and see what can be implemented if the findings are still valid,” said Mr Chikwanda.
And Mr Chikwanda said there is also need to reduce or eliminate costly inefficiencies some of which have persisted since time immemorial and that successful governments have not provided sufficient support to Zesco to remove the costly inefficiencies.
However, he said the current management at Zesco moved Zambia from a terrible state of energy poverty which was lasting up to 14 hours every day to surplus energy.
He admitted that Zesco still faces significant challenges which require significant effort such as the ongoing rehabilitation works in Lusaka among others.
Mr Chikwanda is however confident that the new managing director at Zesco with the vast experience he has, will take Zambia to the electricity export market in a very big way because of the extent of the ground work done by his predecessor.
‘BAIL OUT ZESCO’
