Minister of Finance Felix Mutati.
Minister of Finance Felix Mutati.
FINANCE Minister Felix Mutati says several investors have shown interest to tap into Zambia’s energy sector through massive solar initiatives as one of the measures to mitigate the energy deficit the country is grappling with.

Mr Mutati who is in Gujarat, Ahmedabad, attending the African Development Bank (AfDB) Annual Meetings, said a number of investors were interested in investing in the energy sector which had potential for growth.

He said in an interview the Government would invite three investors to Zambia to further discuss on how they could tap into the energy sector via solar solutions.

“Already this afternoon (yesterday) we have had massive inquiries from investors across the globe that are willing to come to Zambia and invest in the solar space taking a chance on opportunities just displayed a few minutes. So we are going to invite at least three investors to come and invest in the solar space because it is beneficial, “he said.

He said the government would, however, involve the local people in the projects as a way of empowering them.

He said there was also need for a change of mindset and people should appreciate that solar energy was also good as the country continued to diversify on the energy mix.

“We want to involve the local people because they can no longer be bystanders and watch technology pass by. They must be part and parcel of the action,” he said.

Mr Mutati said Zambia was particularly interested in two of the high five sectors, which were at the centre of the AfDB development and these were agriculture and energy development.

Mr Mutati said in the agricultural sector, focus was also on the people at the bottom as they were the ones who had the opportunities to create wealth and reduce poverty.
He said last week, he visited Chipata city with the World Bank team, where they saw how Common Markets for Conservation (COMACO) model of investing in the local people was doing well to alleviate poverty.

Mr Mutati said COMACO was providing market opportunities to farmers that had value addition to the produce thereby creating wealth and jobs for them.

“We need to bring those models to scale. We need to replicate them in various parts of Zambia,” he said.

Meanwhile, Mr Mutati said he was inspired by the speech delivered by Indian Prime minister Narendra Damodardas Modi during the official opening of the 2017 Annual Meetings yesterday that India and Africa would strengthen cooperation and that it had set aside US$10 billion to support the connectivity of activities in terms of development.

He said there were a lot of similarities in the challenges and opportunities that India and Africa faced, hence the need to collaborate on the development front.

He said the only difference was the passion at which decisions were implemented in India and that his team had constructive decisions on how to improve people’s lives.

“We have had productive conversations, we have constructed great ideas but the missing link is to convert all that into practical output that changes people’s lives, “he said.

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12 COMMENTS

  1. If we focused on development like this the way we spend time talking politics, poverty reduction can accelerate at a lightening speed. This is a breath of fresh air.

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  2. We had thiese statements when the minister was in livingstone some months back,that investors were queuing up to invest in the power sector. We are then told that the 75% increase in power prices was necessary otherwise there was no interesg from investors. What us the true statement.
    Why do we pay excise on an essential service, where does the 3 kr tv levy go. How many customers does zesco have. The fixed charge is to cover admin etc we are told. The tarriff should cover the running of the business
    Where does all this extra money go

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  3. For as long as Zambians concentrate on negativity the country is doomed. Change your mindset Zambians please. To every pronouncement instead of enquiring more and trying to participate we shoot any idea down. Attitude, attitude, attitude please.

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  4. @ Hamoonde

    Instead of castigating Zambians on “negativity”, have courage and call spade spade. Hon. Mutati periodical blabbing does NOT contribute to Country development. The only Zambian person who benefit from his new-born baby bed-time stories, it’s himself. Have you EVER heard Mr. Mutati mentioning name of ONE investor? Nine months of constant deceit by this stuttering non-comp liar is too much to accept. After all, we the tax payers pay for his globetrotting in vain pursuit of more loans destined to line ruling party “leadership” pockets.

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  5. It’s nice to say investors have shown interest in investing in the Zambia energy sector. Mr Mutati should tell the Zambian people who these investors are. How much money are they plaguing and when do we expect implementation of these plagues. We the Zambians would like to see more energy generated so that the price of power can eventually come down instead of increasing by as much as 75%. Power is one of the main drivers of economic growth. Reasonably priced power is what has driven China to where it is at the moment.

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  6. 777x castigating Zambian, why can you not go and lure private investors yourself and partner with them since an opportunity has been identified. You lack of realization that private citizens can initiate investment aside from government efforts is the negativity am talking about. Poilitisizing everything will not grow the economy. Think objectively not emotionally. We will come to politics in 2021,now it’s time to work. Good luck brother, no offence

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  7. 777x Zambia has 9.8% shareholding in AfDB, which entitles our Minister of Finance to be a Governor on the Board,. AfDB bears fill costs for travel, accommodation and Board allowances when attending annual meetings. To reduce on your unnecessary frustration research a bit before you blurt to avoid exposing ignorance. Google AfDB website to learn but just a little bit then comment

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  8. Hamoono, also research a bit otherwise you will die of frustration for nothing, AfDB is spearheading funding for 2,400mw Batoka gorge power project, they have given $50m to Ministry of Fisheries forAqua farming, $50m to DBZ for SME loans etc. Today I will spend my day teaching you. So these meetings have value. Don’t feel am demeaning you, am just trying to enlighten you so you have future issue based conversation instead of fortune telling and speculative discussions which are a waste of time

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  9. Talk, talk, talk, talk and talk…. Ba Mutati you have been talking all this while about the same thing. Now we need action…. Mwalanda sana pafula. Show results

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  10. We need long-term Investors for Zambia Not those with shorterm Investments Horizons in a Predatory lending or Financing ways

    Then Growth as a result of Infrastructural Developments shows favourable Indicators and employment statistics BUT when the Finances dry up and Projects Infrastructure are completed or scaled down with unmatched savings to continue the pace from the same, OFTEN the resultant is worse than the period of Investing or creating the SOLID structures

    So there must be a PLAN B after So much projects and financing has been made and a view over the long-term will be sustainable

    Also the minister should learn to see through and avoid…

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  11. Also the minister should learn to see through and avoid “predatory lending schemes”

    We need Investments that will give a dividend not interests Investors with a long-term view not short-term arbitragers

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