DEPUTY Minister of Commerce, Trade and Industry Miles Sampa says Government is making headway in efforts to acquire another Eurobond to help build Zesco’s power generation capacity.
Speaking when he officiated at the opening of the refurbished Total Service Station in Matero and the launch of the partnership with Emerging Cooking Solutions in Lusaka yesterday, Mr Sampa said Zesco needs a huge investment to address the current electricity deficit, especially that the country is still developing.
“As you are aware, we are currently facing power cuts, it is because Zesco needs to invest a lot of millions of dollars so it can generate more power, and to generate power, Zesco has to bring water from Kafue River and all the rivers, process it and then give us electricity.
“But that requires a lot of money. This is why the Minister of Finance [Alexander Chikwanda] has gone and is making headway to acquire another Eurobond so that we can develop Zesco and hence have reliable power in the country,” he said.
Mr Sampa, however, said once Zesco is developed, there is no guarantee that there will be enough power in future because the country is still growing and the investment will be effective in the long-term.
Zambia is currently experiencing erratic electricity supply due to poor rainfall during the 2014/2015 rainy season, which has resulted in low river inflows into the Zesco reservoirs.
And Mr Sampa says Government is happy that Total Zambia has continued to give Zambians access to better energy.
Mr Sampa says Government appreciates the services Total has been providing to the citizens in the 65 years of existence in Zambia.
“Total has always placed a strong emphasis on supporting the communities in which they operate and I am delighted to be a part of this new partnership with Emerging Cooking Solutions,” Mr Sampa said.
Emerging Cooking Solutions is aimed at providing alternative sustainable cooking solutions to charcoal.