Copperbelt Energy Corporation upbeat about Zambia’s energy sector

Zambia’s energy sector has become one of the best destinations for private sector investments, says Copperbelt Energy Corporation Plc (CEC).

The improving economic variables in Zambia, ongoing sector reforms and the Government’s focus on dialogue with the private sector, made for an attractive investment environment.

This is according to CEC Chief Financial Officer, Mutale Mukuka, as he shared his views on various aspects of the business and the Zambian energy sector recently in Lusaka.

Mukuka said the levels of investor comfort were also expected to be bolstered by the positive performance of other key economic indicators and the economic recovery programme supported by the International Monetary Fund (IMF).

He was particularly happy with the government’s focus on deepening dialogue with private economic actors.

“If you add up all of these things that are happening, such as sector reforms, you will see that this is the country you want to be in as an investor because you will be assured that you are making an investment in a stable country,” Mukuka said.

He pointed out that it was good the Government was prioritising dialogue with key stakeholders in growing key sectors of the economy, such as mining and energy.

Mukuka explained that the Public Private Dialogue Forum was trying to see how it could identify the bottlenecks so as to facilitate for private money to come, not just in the energy sector but in the country as a whole.

In this vein, he said, CEC fully backed the public consultations undertaken by the state following the release of the electricity Cost of Service Study report at the back end of 2022 and the subsequent government Green Paper.

He stated that the consultations were intended to take on board various stakeholders’ social and economic interests prior to auctioning any report findings and recommendations.

“We think highlighting stakeholders’ social and economic needs that need to be taken care of is quite key to assuring the financial health of the electricity industry as a whole to allow for the required growth, not only in the sector but in the country as a whole,” Mukuka said.