Mini-grid power lab launched
By BUSINESS REPORTER THE Kwacha has continued to come under pressure against the dollar with demand and supply being the main drivers of the local currency in the short to medium term.
However, much as the local currency is currently under pressure, this week is managed to post a minor gain against the greenback, touching an intra-day high of K9.9300 / K9.980 on the interbank bid and offer respectively.
The financial market therefore anticipates demand and supply to continue being the main drivers of the Kwacha in the short to medium term.
According to Cavmont bank Zambia daily market report, the local unit during Thursday’s trading session posted a minor gain against the dollar as it touched an intra-day high of K9.9300 / K9.980 on the interbank bid and offer respectively.
“Market activity was mainly confined on interbank while most corporates traded the currency pair cautiously in anticipation of the local unit posting further gains. By afternoon however, the currency pair was seen being quoted at K9.950 / K10.000,” read the report.
On the money market, the bank indicated that commercial banks' aggregate current account reduced by K184.82 million to K683.88 million while the overnight borrowing and lending rate increased by 0.01 to 9.81 percent.
Total funds therefore traded on Interbank were K300.00 million. By BUSINESS REPORTER A MINI-GRID innovation lab meant to provide more power to rural areas in Zambia and the Sub-Saharan Africa has been launched by the Cross Boundary in Partnership with Rockefeller Foundation.
The new business model for mini-grids is currently being tested Kenya and Tanzania and would be launched in Nigeria and Zambia.
Cross Boundary head of energy access, Gabriel Davies, explained during the launch in Lusaka that the lab took a data-driven, iterative testing approach.
“The Lab takes a data-driven, iterative testing approach to put numbers to the questions that governments, donors, and investors need answers to.
“How do mini-grids integrate with the main grid? By partnering with developers, who are closest to the daily challenges of providing power to rural customers, we can answer these questions with real world data,” he said.
The project focuses on testing new business model innovations for mini-grids to provide more power, to more people and at less cost.
The lab, with support from The Rockefeller Foundation, is the first fund project for Sub-Saharan Africa that focuses on testing business model innovations in the mini-grid sector.
And Rockefeller Foundation Managing Director (Smart Power) Ashvin Dayal, said the ultimate goal of the project was to equip governments, investors and developers to accelerate rural electrification.
“We are delighted to be partnering with the Cross Boundary Group. The ultimate goal of this effort is to equip governments, investors and developers to dramatically accelerate rural electrification in an integrated manner, unlocking new economic opportunities for millions of households," he said.