• Any pronouncement that relates to the energy sector must not be done to excite the people.
• Zambians want to see tangible effort by government that responds to the immediate negative effects of load shedding.
• Foreign Direct Investments are welcome but they should directly benefit the people of Zambia.
A Business Analyst says Zambians want to see tangible effort by government that responds to the immediate negative effects of load shedding.
Speaking in an interview with Money FM News, Francis Chipili said in view of the current situation where people are suffering from load shedding, any pronouncement that relates to the energy sector must not be done in order to excite the people but should provide solutions.
Meanwhile, Mr. Chipili stated that the recent announcement that seven companies from the United Kingdom are investing US$2 billion in setting up renewable energy projects in Zambia is welcome as long as their investments will have a direct benefit to citizens not just by buying power but also in terms of local employment.
“Any positive development that encourages the expansion and increased energy production outputs are welcome. However, when you critically analyze the possibility or potential of British Investors investing in the energy sector, I think sometimes in Zambia we tend to celebrate things very early, we tend to make announcements before things materialize.
And so that engagement that the British Ambassador had with the Economic Advisor to the President is still at window shopping level, and so I think it’s important that yes we welcome the inflow of Foreign Direct Investments but I think at this critical juncture where people are suffering from load shedding, any pronouncement that relates to the energy sector must not be done just to excite the people. We want to see tangible effort by the government that responds to the short term or immediate negative effects of load shedding,” Mr. Chipili stated.
He noted that the announcement is too premature for the country to get excited about, as some of the investors are doing any feasibility studies at the moment.
“Basically that announcement is too premature as a country to get excited about, as some of those investors are actually not even doing feasibility studies, some of them are not in the country, the money is not in the country.”
“So yes we welcome those investors as long as their investments will benefit the people of Zambia and for as long as their investments will be done in a manner that our environment is not affected, and also that the investment will be done in a manner that the local people who are the owners of the resources that these foreign entities are going to be tapping into, will be drawing a direct benefit nit just by buying power but even in terms of local employment in terms of Corporate Social Responsibility,” he added.
Seven companies from the United Kingdom are expected to invest US$2 billion in setting up renewable energy projects in Zambia projected to produce two thousand Megawatts of electricity.
