Zambia seeks $12bn power investment
By Ludia Ngwadzai
ZAMBIA needs US$12 billion in power generation investment to reach its target of 10,000 megawatts (MW) by 2031, the Ministry of Energy has said.
Ministry of Energy director Raphael Zimba said the investment was critical to ensuring sufficient and stable electricity supply to support industrialisation and economic growth under the Grow Zambia Agenda.
Speaking at the second edition of the 2026 Power-Elec Zambia International Exhibition and Conference in Lusaka on Wednesday, Zimba said reaching the target required participation from all sectors of the economy.
“As we may all be aware, the energy sector is key in the country’s economic transformation agenda. There is need to have in place the US$12 billion worth of power generation investments to be able to generate 10,000 megawatts of power by the year 2031,” he said.
Zimba said the Grow Zambia Agenda had established measurable national targets that required coordinated efforts across different sectors to drive economic transformation.
Kiyona Energy Company Limited chief executive officer Clement Siame said Zambia could strengthen its energy security through improved power generation and reduced transmission losses.
Siame said sustainable electricity generation should be accompanied by effective distribution to ensure areas with the greatest demand receive adequate supplies.
He said his company planned to expand its power generation and distribution capacity over the next three to five years.
Zambia Renewable Energy Agency (ZARENA) board member Kakoma Chilala said Zambia’s shift away from dependence on a single hydroelectric power source presented opportunities to improve energy security and support economic growth.
Dr Chilala said the country needed to embrace innovation, technological transformation and creative thinking to diversify its energy sources beyond hydropower.
The three-day second edition of the Power-Elec Zambia International Exhibition and Conference was held under the theme, “Powering Zambia’s Industrialisation and Energy Security”.
