Mega Energy to Give Zambians Energy Projects of 50MW, Pay as You Go (PAYG).
Mega Energy Zambia: Pay-As-You-Go (PAYG) Residential Hybrid Solar Kits for Zambians with Structured Salaries.
Francis John, Editor-Publisher TipsNews, Kansas City
Freud Musanu, the President of the Zambia Diaspora Chamber of Commerce (ZDCC), headquartered in Kansas City, Missouri, is gearing up to attract diasporas and other investors to participate in affordable and flexible payment plans for solar kits. This initiative aims to bolster the Zambian economy and involves strategic engagement with the Zambian Government and stakeholders to address energy challenges. The “Pay as You Go” (PAYG) model, expected to be the best in Africa and developing countries, will be implemented shortly with the support of a bank and a re/insurance company. Payments will be accepted into the Mega Energy Zambia 2-5 Kva Solar Kits program, and installations are planned to commence in the first quarter of 2024. This open platform invites individuals and businesses to invest and take advantage of a secure structure for a return on investment, marking a unique opportunity in the energy sector.
Contact Mega Energy with inquiries to partner and become an energy stakeholder: Mega Energy Ltd
RM F22A, Kambendekela House, Dedan Kimathi Rd, Lusaka, Zambia 10101
In related news, President Hakainde Hichilema, on October 9th, 2023, urged Zambians to invest in the energy sector, emphasizing the promotion of local investment, economic growth, and job creation. He encouraged citizens to participate in the energy sector by investing in projects below 50 megawatts of energy, stressing the need to seize the opportunity presented by the government. President Hichilema made these remarks during the swearing-in ceremony of Peter Mumba as the Permanent Secretary (PS) for the Ministry of Energy at State House. He instructed Mr. Mumba to work with his minister and ministerial staff to find solutions to challenges in the energy sector promptly.
The President also expressed the need for the rapid adoption of electric vehicles as a solution to the issues caused by fuel imports, particularly due to the fluctuating international oil prices and global conflicts. He urged the new Permanent Secretary to lead an innovative and swift approach in the energy sector, considering the sector’s increasingly challenging environment.
Furthermore, President Hichilema emphasized the importance of streamlining processes, particularly the negotiation of power purchase agreements, to expedite development. He highlighted three key factors—technical capacity, financial capacity, and the price of power—as the basis for decision-making. The President urged controlling officers to ensure that no commodities are purchased at a loss, citing the example of the high cost of power purchased from Mozambique, which was sold at a loss in Zambia.
This development reflects a commitment to improving the energy sector in Zambia, promoting local investment, and responding to global energy challenges.
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