The Zambia Development Agency – ZDA Acting Director General Matongo Matamwandi says the energy challenges that the country is currently facing should be a great opportunity for investors to invest in alternative sources of energy such as solar and biodiesel.
Matamwandi has stated that Zambia has unlimited investment opportunities in various sectors of the country and that every challenge presents a business opportunity for an investor. Zambia is currently experiencing a power deficit which has negatively impacted on agricultural production, business on the Zambian community and other economic sectors.
Energy Minister Matthew Nkhuwa had last month announced that Zambia is facing on-grid power deficit of over 750 MW due to lack of water in the Kariba dam, the country main source of hydro power and that government will hence forth import 300 MW of power from South Africa.
Government has pledged to stay committed to addressing the current power deficit but energy experts and various stakeholders talked to have questioned its implementation referring to the fact that the Minister’s pronouncement to imports 300 MW from SA has not yet been actualized.
In a statement made available to the Zambian Business Times – ZBT by ZDA Public Relations Manager Faith Musonda, Matamwandi said the Agriculture sector’s total land areas is 75 million hectors but that only 14 % is currently being utilized hence the need to fill the gab through investments by both local and foreign investors.
“Infrastructure development is another sector with various opportunities including such opportunities as the contraction of grain storage facilities, real estate, health facilities, education and industrial structure, Zambians can find partners to invest in these areas” he said.
