Government overwhelmed by increase in Swedish companies itching to invest in Zambia’s energy sector-Mutati

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Finance Minister Felix Mutati addressing highly powered meeting of investors in Stockholm as Swedish ambassador to Zambia Henrik Cederine and Charge de Affaires Anthony Mukwita follow discussion. Business Sweden have invited all blue chip financiers to be present.
Finance Minister Felix Mutati addressing highly powered meeting of investors in Stockholm as Swedish ambassador to Zambia Henrik Cederine and Charge de Affaires Anthony Mukwita follow discussion. Business Sweden have invited all blue chip financiers to be present.

MINISTER of Finance Felix Mutati says Government is overwhelmed by the increase in the number of Swedish companies itching to invest in the development of Zambia’s energy sector.

Mr Mutati is on an economic diplomacy tour of Europe to woo investment into Zambia’s various economic sectors.

The number of Swedish companies showing interest in pumping billions of dollars into the energy sector has grown to five following a roadshow hosted by the influential Business Sweden at its World Trade Centre (WTO) offices in Stockholm, Sweden.

This is contained in a statement released yesterday by Zambia’s deputy ambassador to Sweden Anthony Mukwita.

Mr Mukwita said the companies’ representatives told Mr Mutati they were just waiting for a ‘green light’ from his government to ‘light up’ Zambia.

Mr Mukwita said among the first to express interest in injecting money into the energy sector, buoyed by the fact that adjustments may soon be made in power tariffs in Zambia in the long run, was Eltel.

He said Eltel is a blue-chip Swedish company that has already invested about US$150 million in the energy sector in Zambia’s North-Western Province, including Swedfund.

“Hans Olov Rauman, Eltel’s head of international transmission, told Mr Mutati that ‘we already have over US$6 million in equipment waiting to be used in Zambia. We don’t want to move it to another country, we want to help increase power in Zambia given the right opportunity’,” Mr Mukwita said.

He said a plethora of energy investors ranging from thermal, solar and biofuel echoed the same sentiment, stating that they found Zambia a great investment destination with a stable political spectrum to work under.

The companies included Business Sweden.

Mr Mutati was accompanied at the top level meeting by Mr Mukwita, Finance permanent secretary Mukuli Chikuba and top directors from the ministry.

The list of companies at the roadshow included EKn, which has guaranteed more than US$250 million in investment in Zambia, ABB, Eltel , Carnegie Fonder and Metrum.

Mr Mutati is expected to leave Stockholm for Zambia today.

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47 COMMENTS

    • Why let Mukwita write about this? This is not the way to write.
      Even the investors will withdraw the interests.

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    • hehehe! Ati overwhelmed please Mr. Anthony we already know you are trying to come out like you are doing a lot of work those companies you have mentioned have already been in Zambia and implementing turnkey projects. I dont even see any serious investment in ZM by e.g. Eltel & ABB. This is Nonsensical you dont call companies that come to implement projects in Zambia and even externalize revenues as investors. We need as a matter of policy a clear understanding of what investment in our country means otherwise caders like Tony will be calling anything an investment. These companies can never even capitalize within ZM

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    • Only a foool would believe the publicity hungry Anthony Mukwita …maybe the foools who are buying his book. I have never the seen Zambian Ambassador all we see is that boy Tony. Where is ministry of foreign affairs to put him in his place.

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    • Don’t be overwhelmed, be Wary! Not all that glitters is gold. Ensure the people of Zambia benefit from these investments and not just the investors.

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  1. They are not stupid like you . They will rake every penny back to Sweden and you call it investment .

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  2. This is typical Anthony mukwita, shangri-la articles, how can five companies overwhelm a big country like Zambia whose energy needs are massive not only within it’s borders but it’s neighbors too.

    This article is for pf caders like vizungu, ati plethora of energy investors, kikiki niba mpombo Anthony mukwita.

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    • Equally yours mwaice, that’s why you woke up that early to comment…!

      Anyway, back to business; kindly define ‘caders’ for me…!?

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    • @ ndobo

      “…Zambia is equal to Estonia if not better…”
      Can you please amplify above confusing and most probably misleading amateurish assessment?

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    • Clearly you know nothing of that country to make such silly comparisons..do you know that Citizens of Estonia are provided with universal health care, free education and the longest paid maternity leave in the OECD. Since independence the country has rapidly developed its IT sector, yet you ignorantly laugh at them like foools you are…its becoming one of the world’s most digitally advanced societies.In 2005 Estonia became the first nation to hold elections over the Internet, and in 2014 the first nation to provide E-residency.
      Countries have developed but you and your docile minds have not.
      Wake up!!

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    • Can’t disagree with this assessment, it’s right on.
      Gone are the days when we thought the eastern countries were behind. They have made explosive advancement, only a “foools” (to borrow JJ statement) would think otherwise.

      While Zambia has remained behind.

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  3. Overwhelmed by five companies with less that 500million dollars to invest in the energy sector? This Mukwita thing is becoming a pain in the ass. Surely if you don’t have anything to do better be quite than infuriate us with this trash. What has happened to your so called against all odds book trash? I bet you are even embarrassed to come and market that book in Zambia. Let Mutati try and do something tangible at least we can see a ray of light at the end of the tunnel. PF you have failed, let MMD part two try once again.

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  4. Bwafya always looking for investors even for investors to run councils.Can’t we also have zambian investors in this poor country.are we so brain washed that we can’t run anaything on our own mwebantu sure?.Why even simple programs u need investors .Where are intelligent Zambians kanshi?Are intelligent Zambians dead?We need to be serious with our country.politics won’t take us anywhere.Govt also can’t employ all Zambia otherwise where are they going to get revenue if there are no private sectors.We need to invest in this country as Zambians otherwise money just goes out everyday. Shoprite makes billions from Zambia and Zambians can’t come up with their own super market .Lesa twapapata there is no future in this country.Is it leadership or zambians are too doncile n lazy to do…

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  5. The poverty of PF appointments, Mukwita sure deputy Ambassador!!! – and you’re happy we’re properly represented!!!? Take a check at all embassies and see the characters PF put there. Largely mediocre and I can list them for you.

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  6. You don’t go round looking for investors. That is why they take advantage. When you stop rigging elections and make they everything conducive, they will come on their own free will and everything will work. As long as corruption continues escalating, Forget. We don’t learn because this was what politicians were doing even in the discredited Chiluba era. Look at countries who have got that formula like Mauritius, Botswana, Namibia. They never go round trying to woe investors. Investors go their willingly. We almost got the formula during Mwanawasa because he seriously had no appetite for corruption. Why is Lungu not saying anything about Malawi maize-gate saga? Can people take us seriously?

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    • Don’t lie, Mwanawasa was very corrupt led by Maureen and their partner Fred Mmembe not to mention their othe partner one permanent Secretary Miti. Don’t be so deceived by that selective fight against corruption which was just a political gimmick

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    • @ JK I am not a fan of Mwanawasa per se and I was just 45 % impressed with him. But he is the gold standard among Zambia presidents. That is why I referred to him.

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    • @10. Daniel,
      Well spoken. You are right on que, Mwanawasa was above reproach by a long short on many fronts when compared to Lungu, Sata, Banda and Chiluba. Plain and simple. That’s one of the reasons he was nicknamed ‘ICHIBUMBA’ (the Wall).
      Please ignore obnoxious people like @10.1JK who are nothing but parasites that feed on bad governance.

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  7. Mutati has never run anything of his own, just like Mukwita. These people are nobodies but crooks on the GRZ payroll. It is sad that we have our important positions being filled up by such dispicable fellows, good at defrauding Zambia!

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    • The highest position this guy could ever get in MMD was ministry of commerce in PF he is the smartest guy that speaks volumes

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  8. This mutations man is a dreamer who is good at changing to get what he wants. He a chameleon who cannot survive in opposition that is why he betrayed his party and was bought for a mere ministerial position kikiki useless flaccid penis

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  9. Can we stop this talk shows and start working please. All these guys you are talking have been to Zambia already, they are just looking for some favoritism when Zesco float tenders. They are useless as they do not Zambian sub contractors. They make sure jobs go their friends when they have projects in Zambia.

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  10. Elo naiwe Mutati, stick to your job as Finance Minister. You are busy trying to make sure all deals walyamo. We know you mambala iwe.

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  11. The dilemma is that:

    1. TARIFFS are currently too low for any investor to make any profit. Govt has plans to increase tariffs in the next few years.

    2. The people are too poor to afford tariff increases.

    3. Companies are already struggling to stay afloat & an increase in tariffs will kill the economy meaning high unemployment. The cost of doing business in Zambia is just too high & the current crop of CLUELESS PF00Lish / MMD rejects is powerless to resolve this problem.

    4. Food prices are so high. Coupled with low salaries, high fuel prices & poor diet the ordinary Zambian folks can no longer afford the luxury called electricity.

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  12. JUST TELL US WHERE WE CAN FIND CHITULIKA CONSTITUENCY. IF WE CAN NOT FIND IT THEN THE COUNTRY CAN NOT DEVELOP

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  13. This people full of contradictions, just a few days ago the vice president said they will end the load-shedding problems because they have already embarked on a multibillion project. Now this dude is saying ba Swedish investor, plus na tarrifs ayaba low we are struggling to pay .
    “Vice president Inonge Wina says load-shedding will end next year following numerous interventions Government has implemented.
    This is contained in a joint statement issued yesterday by first secretary for press and public relations at the Zambian High Commission to the United Kingdom (UK) Abigail Chaponda and Mrs Wina’s press aide Kunda Mando.
    Mrs Wina said one of the interventions is the US$4 billion (K40 billion) Batoka Hydro-Electric Scheme at Batoka Gorge.”

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  14. I don’t understand the excitement of these investors. I am a Zambian working outside the country. In 2008 I secured funding from overseas investors to develop either hydropower or solar power. We had meeting with ZDA, Rural electrification, ZESCO, PS in the ministry of energy CEC. From the government’s side of things, it was obvious that they were looking for bribes and the private one wanted to give us useless project or kick me as a Zambian out of the project, despite have pledged to give 20 per cent of the project to a Zambian consortium or community ……FREE!! Its obvious that I failed to secure a project because I was not prepared to offer bribes. IAM STILL LOOKING FOR THAT PROJECT….IF THERE IS A ZAMBIAN OUT THERE WITH A VIABLE PROJECT, RESPOND ON THIS SITE AND LEAVE YOUR…

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    • You want people to respond with their details…are you serious? Why dont you leave your contacts on here?

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  15. Do those investers know that there is heavy load shedding in Zambia, the rate of corruption, dictatorship? The price of fuel is crazy the economy is kneeling

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    • Upper Zambezi is flooded …down stream in Zimbabwe dams are flooded but the bottleneck the Kariba Dam still no good news – loadshedding continues….now i am starting to believe that story of Zesco and govt officials procuring cheap turbines from China to cream off the difference.

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  16. As usual ,most of us Zambians are full of excuses and negative thinking. When we look around all we see are problems, corrupt leaders and Government officials , bitter opposition parties and this has become the talk and norm of the day. On the other hand ,Israelis, Americans and other nationals around the world see opportunities and ” Gold mines “in Zambia and they are busy investing and making millions of dollars .They want and are crying just to be in Zambia .To add salt to the injury they pay themselves heft salaries and pay us little that cant even take us from the beginning to the end of the month.so exactly who is to blame? PF? UPND, Lungu ,HH, Wina or GBM? ECZ? Answer is ourselves. The people we blame saw opportunities and exploited them and they are living very well with…

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  17. @10. Daniel,
    Well spoken. You are right on que, Mwanawasa was above reproach by a long short on many fronts when compared to Lungu, Sata, Banda and Chiluba. Plain and simple. That’s one of the reasons he was nicknamed ‘ICHIBUMBA’ (the Wall).
    Please ignore obnoxious people like @10.1-JK who are nothing but parasites that feed on bad governance.

    Genuine Investors are like water that naturally flows to the lowest possible level, unless blocked or pumped uphill. So, a hill is to water what corruption is to a genuine investor

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  18. PM

    I have a plan and foundation. Provide your contact info. I think you’ll love to hear what I have to say.

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Comments are closed.