Regulation Director General Engineer Joseph Ng’ang’a(l) and COMESA
Director of Human Resource and Administration in Charge Victoria
Mwewa(r) chats during the official opening of the 7th Regional
Association of Energy Regulators Annual General Meeting in Lusaka
This is according to Mr Anthony Mukwita the Charge d Affairs in Sweden who accompanied the Permanent Secretary to an energy indaba in Malmo the 3rd largest city in Sweden today.
“We have embarked on a Cost Reflective Tariff system in the Zambian energy sector that makes investing in the sector profitable now more than ever before,” Mrs Chola said.
An upward adjustment in power tariffs and eventual removal of subsidies that left a huge hole in the government treasury is expected to attract Foreign Direct Investment in the Zambian energy sector according to the PS.
Several Swedish companies domiciled in Stockholm moved to Malmo to have side line discussions today with the PS on how they could take a bite onto the Zambian energy cherry pie following the announcement of forthcoming competitive tariffs that will eventually plug the power deficit and make Zambia an energy power hub that can earn money through energy supply in the near future according to Brig General Chola.
Mr Mukwita said the presence of a high-level government official has convinced energy investors here that Zambia means business in opening its energy sector to international business.
Mrs Chola was the Key Note speaker at the two-day energy event that concludes May 31.
Zambia has escalated its economic diplomacy call and is looking at various opportunities to make its presence in missions abroad count. Last week Foreign Affairs Minister Harry Kalaba hit the road in Scandinavia with an escalated engagement in economic diplomacy.
Mr Mukwita said it would be a matter of time before ordinary people start to benefit from the efforts of various high level participation.
President Edgar Lungu has emphasised that he wants nothing but greater job creation and poverty reduction on his watch and the energy sector long ignored as unprofitable is one such avenue.
Mukwita should concentrate on selling his book, last time mutati was in Sweden he told us that he was overwhelmed by the number of investors itching to invest in Zambia, today he is begging for investors who were itching to come and invest, ba mukwita balitemwa ukuitekunya.
The Swedes should keep their money to themselves and should not come to exploit poor Zambians. This is the new slave trade, the new colonialism, with Africans conniving with Western money men.
she says come to zambia and make a profit at the average zambians expense……. swedish companies domiciled in Stockholm moved to Malmo . Think the correct expression is travelled to malmo. The almighty zambian delegation managed to make companies relocate to where the minister is. I dont think so.
An upward adjustment, read increas left a huge black whole in the budget.the increase was to cover subsidy removal so how does that logic follow. They invest make profit send back to sweden
Mutatati conceded we needed $1.6 billion fom IMF to balance budget b4 subsidies were removed
We are gathering names of Swedish energy companies, 11 thus far, who we will be emailing highlighting the fact they will be helping lungu further destroy our democracy if they invest in Zambia at this time…..
we examples when press conferences, rallies of opposition have been cancelled. We have examples of when opposition leaders have been threatened with arrest for greeting well wishes. All attached to this email.
Without Rule of Law, Good Governance, respect for Human Rights and Constitutionalism Zambia will fail to get the $1.6 Billion Loan from IMF. A Loan from IMF plays a catalytic role to Investors and Aid Donors. A tariff adjustment in electricity tariffs will not woo foreign investors to Zambia. With HH in Prison on fake Treason Charges the IMF Board will not approve the Loan to Zambia and without an IMF Stamp of approval other lenders,Aid Donors and investors will shun Zambia. HH’s incarceration represents gross Human Rights Violations. So Mutati should kiss Goodbye to IMF Money,Donor Aid and Foreign Capital.