Economist Kelvin Chisanga has warned that the country is struggling to attract investment due to rising and unpredictable energy costs.
Mr. Chisanga’s remarks come after ZESCO limited said that loadshedding will not end this year, but will reduce starting July.
Speaking in an interview with RCV News in Lusaka today, Mr. Chisanga said the current situation is not attractive to investors as the cost of energy keeps going upward and remains unstable.
“It is difficult to get investors, not only when the country stabilizes the energy supply,” said Mr. Chisanga.
He emphasized that potential investors are drawn to environments that offer enticing investment packages, and that energy reliability is a critical component of such packages.
Meanwhile, Mr. Chisanga has urged the mining sector to take a proactive role in securing its own energy sources and not to solely depend on ZESCO as the only source.
He further highlighted the impact of weather patterns on the country’s energy generation capacity, noting that consistent rainfall is vital for hydropower production.
“The country still needs three good rain patterns to have enough water volumes to speak in the growth pattern,” said Mr. Chisanga.
By Margaret Mwanza
