Germany eyes Zambian energy sector
ABOUT eight potential German investors are expected in Zambia in the next few weeks to explore investment opportunities in the energy sector, Zambia’s ambassador to Germany Anthony Mukwita has said.
In a statement by the first secretary for press at the Zambian embassy in Berlin Kellys Kaunda, Mr. Mukwita said the German chamber of commerce and industry project manager Markus Wolf had assured him that the investors will be coming to Zambia following the removal of energy subsidies.
Mr. Wolf is said to have made the disclosure during an information workshop on investment opportunities in the Zambian energy sector organized by the GIZ, a German Government international investment wing.
“We expect between five to eight potential investors in the Germany energy sector to join us in Zambia in two months to seriously explore opportunities that are available in the Zambian energy sector,” Mr Wolf said.
And speaking at the same event, Mr. Mukwita said President Edgar Lungu’s decision to scrap subsidies in key sectors such as energy had begun to yield positive results.
“Now you can see that the bold decision by President Lungu to scrap off subsidies that kept tariffs in the energy sector artificially low is beginning to yield positive economic results as more and more foreign companies beat the investment path leading to Zambia”, Mr. Mukwita said.