Freud Musanu of Mega Energy Zambia and Zambia Diaspora Chamber of Commerce (ZDCC) Backs $10 Billion Investment Initiative

William John TipsNews Europe, – May 27, 2024

Freud Musanu, a prominent figure from Mega Energy Zambia and the Zambian Diaspora Chamber of Commerce, has joined forces with the Zambian government to spearhead a campaign aimed at attracting $10 billion in investments over the next decade. This initiative seeks to bolster Zambia’s energy sector, focusing on alternative clean sources of energy such as solar and gas, amidst ongoing power deficits and load shedding issues.

ERB Calls for Investment in Alternative Clean Sources of Energy

In response to the country’s energy challenges, the Energy Regulation Board (ERB) has emphasized the urgent need for investments in sustainable energy solutions. ERB Copperbelt Region Acting Senior Manager, Ezra Siamasumo, highlighted the board’s commitment to fostering an environment conducive to green energy investments. Speaking during a tour of the Copperbelt Energy Corporation (CEC) Solar Power Plant in Itimpi, Kitwe, Siamasumo stated, “Regulatory frameworks are in place. We want to see more entities investing in solar power plants to build a sector resilient to climate change.”

CEC’s Senior Manager of Renewables, Reuben Munungwe, echoed this sentiment, urging Zambia to leverage its abundant sunlight for solar power generation. Furthermore, CEC Acting Chief Financial Officer, Lizzie Muwowo, expressed gratitude to ERB for their support of solar projects in Riverside and Itimpi, reinforcing the potential for solar energy to meet domestic demands and facilitate export opportunities.

Strategic Investment Campaign

Freud Musanu’s collaboration with the Zambian government represents a strategic effort to attract significant international investment. By leveraging his expertise and network within the diaspora community, Musanu aims to secure funding that will drive innovation and sustainability within Zambia’s energy sector.

Recommendations for Potential Investors

1. Leverage Zambia’s Solar Potential: Invest in large-scale solar power projects to harness the country’s ample sunlight, ensuring a steady energy supply and potential for export.
2. Explore Gas Energy Projects: Develop gas infrastructure to provide a reliable and cleaner alternative to traditional energy sources, reducing dependency on hydroelectric power.
3. Engage with ERB: Collaborate with the Energy Regulation Board to navigate regulatory requirements and take advantage of the supportive environment for clean energy investments.
4. Public-Private Partnerships: Form partnerships with local entities and the government to share resources, expertise, and risks, ensuring successful project implementation and sustainability.
5. Innovative Financing Models: Utilize innovative financing models such as green bonds and climate funds to attract a diverse range of investors and secure long-term project funding.

Conclusion

The $10 billion investment initiative led by Freud Musanu and supported by the Zambian government marks a pivotal step towards transforming Zambia’s energy landscape. By focusing on alternative clean energy sources, this campaign not only aims to address the current power deficit but also positions Zambia as a leader in sustainable energy development.

For further information and to explore investment opportunities, please visit the Energy Regulation Board (ERB) website and the Copperbelt Energy Corporation (CEC) website.

Contacts:

• Freud Musanu
  • Mega Energy Zambia
  • Zambian Diaspora Chamber of Commerce
  • Mega Energy Zambia
• Energy Regulation Board (ERB)
  • ERB Zambia
• Copperbelt Energy Corporation (CEC)
  • CEC Investor

This initiative underscores the collaborative effort required to achieve a resilient and sustainable energy sector in Zambia, fostering economic growth and environmental stewardship.

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