Chamber of commerce urges policy reforms to de-risk investments in Zambia’s energy sector

The Zambia Chamber of Commerce and Industry (ZACCI) has underscored the need to de-risk investments, enhance data sharing, and co-design policies that support sustainable business models in Zambia’s energy sector.

ZACCI President, Anthony Kabaghe, said partnerships in renewable energy had already delivered solar solutions to rural clinics, while collaborations with local firms on skills development were preparing youth for future jobs.

Speaking at the United Nations (UN)–private sector engagement meeting held last Wednesday at Mulungushi International Conference Centre in Lusaka, Kabaghe said challenges such as limited access to finance, infrastructure gaps, and policy bottlenecks were hindering scalability.

He noted that Zambia, like many other countries, faces urgent development challenges, including an 11.1 percent poverty rate, 9.76 percent youth unemployment, and limited access to clean energy and quality education.

“These issues demand more than government action—they require the innovation, resources, and agility of the private sector, aligned with the UN’s expertise and reach,” Kabaghe stated.

He added that the Chamber views businesses as catalysts for sustainable growth, citing examples such as agribusinesses empowering smallholder farmers and tech startups helping bridge the digital divide.

UN Resident Coordinator in Zambia, Beatrice Mutali, also emphasized the critical role of the private sector in economic growth, sustainable development, and job creation.

“Globally, the private sector provides about 90 percent of employment in the developing world, covering both formal and informal jobs,” Mutali said.

She further noted that beyond generating government revenues, the private sector supported key sectors such as innovation, infrastructure, and human capital development.

Mutali highlighted the private sector’s role as a strategic partner in achieving the Sustainable Development Goals (SDGs), including through job creation, skills building, innovation, and the provision of affordable goods and services.

“These roles speak directly to the 17 SDGs and are fundamental to achieving them by the target date of 2030,” she said.

She added that the private sector had a crucial role in promoting trade, especially for landlocked countries like Zambia, which face higher transportation costs and uncompetitive international prices due to lack of direct access to seaports.

“The UN in Zambia is committed to working with the Government to provide technical support that ensures communities benefit from trade corridors,” Mutali stated.

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