Zambia Electrometer invests USD10million locally...

Zambia Electrometer - ZE, a joint venture between El Sewedy Electrometer of Egypt and ZESCO limited of Zambia has invested over USD10million locally. This was established in an interview with the companies Sales and Marketing Manager Mr. Joo Chunga at the recently ended International Trade Fair in Ndola. total initial investment at inception of the company was about USD5million which has to date doubled to USD10million through shareholder capital injections, Mr Chunga disclosed.

The ( JV) established in 2008, recently celebrated its 10th anniversary last month. Ownership in the JV is 60% owned by Egyptian El Sewedy and 40% by Zambia’s power utility, ZESCO.

“Currently, ZE Ltd is manufacturing about 20million energy saving bulbs and also exports its electricity meters to mostly COMESA and SADC member states. The key export destination countries in the region include Malawi, Botswana and Zimbabwe not forgetting Gambia which is in West Africa,” he said.

Due to the fast growing poultry industry, Zambia Electrometer designed warming light energy serving bulbs which saves over 80% of energy. The company has now introduced the smart meter that comes with a sim card which enables users to recharge from any location.

The company has provided better meter reading solutions which ZE boasts of as one of its key milestones. This has contributed to the elimination of unpaid bills and customer over charging through manual billing systems. Consumers optimally pay for just what they use.

The energy sector has seen significant growth over the years with demand exceeding supply as such Zambia is working at finding ways of absorbing this demand. Investment in renewable energy, energy serving efficiency as well as environmental protection has risen in parallel, Chunga said.