‘Energy sector attractive for investment’

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has massive investment opportunities as

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This is according to the Zambia Development Agency (ZDA).

ZDA acting director general Matongo Matamwandi said Zambia’s energy sector provided opportunities for investment for thermal power because of availability of coal and biomass.

Mr Matamwandi said the sector also provided investment opportunities for solar, sunlight and massive potential for geothermal energy.

He was speaking recently in a presentation on Investment Climate and Opportunities in Zambia at a business forum held in New Delhi, India ,organised by Indo-Zambia Bank.

“In the area of energy, demand for electricity was close to 2000 megawatts and for petroleum fuels was 53 million litres per month. But problems exist due to constrained electricity generation [weather affecting hydrogenation] and inadequate refining capacity of petroleum,” Mr Matamwandi said.

He said energy was among the five sectors of the economy Zambia had prioritised.

Others were agriculture, infrastructure, manufacturing and tourism.

Mr Matamwandi assured potential investors that Zambia was a destination for safe, sustainable and profitable investment.

He said this was because of a stable socio-economic system, solid macroeconomic fundamentals and attractive investment incentives, among others.

“Zambia’s sustained efforts to reform towards a fully private sector-driven economy has yielded results and recognition,” Mr Matamwandi said.

He encouraged potential investors to venture into manufacturing.