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HomeBusinessEnergy expert welcomes China's US$1.4 Billion Investment pledge 

Energy expert welcomes China’s US$1.4 Billion Investment pledge 

By Felix Katyetye

Energy expert Borniface Zulu has commended government’s effort in attracting US$1.4 Billion Investment pledge in Zambia’s energy sector.

Mr. Zulu said the pledge has the potential to reshape the country’s energy landscape, ushering in an era of economic growth and collaboration.

“The promise of investments from Chinese firms signifies not only a boost for Zambia’s energy sector but also underscores the prospects for enhanced bilateral cooperation and economic development. I extend my heartfelt congratulations to the Zambian government and President Hakainde Hichilema for their diligent efforts in attracting these crucial investments, which promise to bring substantial benefits to the Zambian people,” Mr. Zulu said.

He added that the scope of the investments is diverse, encompassing wind and solar power generation, lithium batteries, and photovoltaic solar projects.

The ventures he said poised to generate a multitude of job opportunities, stimulating economic growth across various sectors in Zambia.

And that they are set to bolster the energy sector, ensuring more accessible, sustainable, and reliable energy sources for the nation’s populace.

However Eng. Zulu said government should consider addresseing issues ensuring that the projects genuinely serve the interests of the Zambian people.

“One pressing concern is the potential for the exploitation of local resources and labor. To mitigate this, the Zambian government must rigorously enforce labor laws, safeguard human rights, and prioritize local employment, thus ensuring that the benefits of this substantial investment reach local communities while maintaining an eco-conscious approach,” he said.

Mr. Zulu was reacting to the president’s recent trip to China where a Chinese firm pledged a US$1.4 Billion in Zambia’s energy sector.

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