AfDB, Zimbabwe Discuss Private Sector-Led Energy Reforms
Senior officials from the African Development Bank (AfDB) met with government and business representatives from Zimbabwe to discuss the southern African country’s renewable energy sector as well as the role the private sector will play in driving new project developments.
During the three-day official visit, AfDB officials Dr Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth and Solomon Quaynor, Vice President for Private Sector, Infrastructure and Industrialization met with H.E Mthuli Ncube, Zimbabwe’s Minister of Finance and Economic Development; H.E Soda Zhemu, Zimbabwe’s Minister of Energy and Power Development; Jesimen Chipika, Deputy Governor of the Reserve Bank of Zimbabwe.
Over the course of the three days, parties discussed how Zimbabwe’s renewable energy resources, private sector and structural and fiscal reforms could pave the way for new project developments across the generation, transmission and distribution sectors in the country. Already, with the support of the AfDB, a number of projects have been launched to this effect, with new reforms implemented country-wide expected to drive new investment and development in the country’s renewable landscape.
“The government of Zimbabwe appreciates the AfDB’s support and involvement, particularly in the Kariba Dam Rehabilitation project ($32 million), the ZimFund Emergency Power Infrastructure Rehabilitation project ($59.5 million), the Alaska-Karoi Transmission Reinforcement project ($19 million) and the Energy Sector Reform Support project ($3.5 million),” stated H.E. Minister Zhemu.
Projects such as these are expected to revitalize the country’s power sector with AfDB officials calling for improved participation of the private sector to accelerate renewable energy penetration and maximize reforms across the energy sector and wider economy.
“We are happy to assist Zimbabwe in implementing key energy reforms to create a vibrant energy sector,” stated Kariuki.
“The AfDB would like to deepen our work in the private sector overall, and specifically with respect to investments in economic corridor transport and logistics infrastructure,” added Quaynor.