By HARBGUY MWAMBAZI –
The people of Zambia are slowly beginning to forget issues relating to power rationing or load shedding, thanks to the Government which had taken decisive steps to improving access to electricity.
Progress has been felt in increased power generation over the past one year, indicating better things to come as more investments are pumped into the energy sector.
Government has managed to attract numerous investors who have committed to injecting extensive resources in Zambia’s energy sector which has great potential to grow.
Among the investors is the Industrial and Commercial Bank of China Limited (ICBC), which, in partnership with the China Export and Import (EXIM) Bank hase injected US$2 billion in the development of the Kafue Gorge Hydro power project.
This is part of the bank’s commitment to support Africa’s growth.
ICBC, which owns a 20 per cent stake in the Standard Bank Group, has financed various projects in Zambia, and those projects now include the Kafue Gorge Lower Power Project which has been financed in partnership by China EXIM Bank.