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By BUUMBA CHIMBULU
INDO Zambia Bank (IZB) Limited has committed an additional US$30 million to the Maamba Solar Energy Limited (MSEL) project, reinforcing its growing footprint in the country’s energy sector.
The fresh injection, announced during the ground-breaking ceremony of the 100MW Maamba Solar Plant on Monday, comes on top of the bank’s previous financing of over US$74 million towards Maamba’s Phase II thermal power expansion.
IZB Managing Director Brajesh Singh said the investment underscored the bank’s confidence in Maamba Solar Energy Limited and the Government’s enabling policy environment that had made such mega projects possible.
“Solar energy represents a lasting solution — clean, renewable, and sustainable. Its resilience against climate variability makes it a cornerstone of any forward-looking energy mix. This project by MSEL is therefore not just a power plant; it is a promise of stability, resilience, and prosperity for our nation.
“We at Indo Zambia Bank are proud to be associated with Maamba Solar Energy Limited as a partner in fostering development, and we commend Maamba Solar Energy Limited for their foresight and commitment in pioneering this project, which will surely stand the test of time,” he said.
Beyond Maamba, IZB has also committed US$35 million to solar projects across the country with a combined generation capacity exceeding 160MW, contributing to the Government’s national target of 1, 000MW.
Mr Singh emphasised that reliable energy was central to the nation’s economic transformation.
He added that projects such as Maamba Solar were catalysts for the industrialisation agenda, accelerating the country’s transition to a resilient and sustainable energy future.
“Energy diversification in Zambia is not only timely but also indispensable. It is the fuel that drives the wheels of our economy.
Access to reliable and sustainable energy directly impacts industrialisation, job creation, and the sustenance of livelihoods for millions of our citizens,” Mr Singh said.
