Today's developments highlight significant strides in Zambia's energy security and international partnerships, with major commitments towards power generation expansion and substantial European Union funding for economic corridors vital to our nation's growth.
Main Stories
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Dangote Advocates Coal Power to Address Energy Deficit
Visiting Dangote Group Chairperson Aliko Dangote advised Zambia to utilize its coal reserves for power generation during a meeting with President Hichilema, emphasizing that exporting raw materials equates to exporting jobs and importing poverty, and offered his company's assistance in meeting Zambia's urgent power needs. -
Zambia and EU Sign €200 Million Lobito Corridor Agreements
Zambia and the European Union signed ten new funding agreements worth €200 million, focusing on key economic areas as part of the Lobito Corridor development strategy, with the EU mobilizing an additional two billion Euros from member-states for the corridor's expansion under its Global Gateway initiative. -
UBA Commits Financing for Zambia's 10,000 MW Power Expansion
United Bank for Africa (UBA) Group Chairperson Tony Elumelu pledged financial backing for Zambia's plan to add 10,000 megawatts to the national grid during a State House meeting, noting Heirs Holdings Group's experience in generating 800MW daily in Nigeria and understanding Zambia's growing economy requires more electricity.
Other Notable Stories
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Key Takeaways & Watchpoints
- Concrete steps towards utilizing domestic coal resources could accelerate solutions to the current power deficit, impacting households and industries nationwide.
- The €200 million EU investment signifies major progress for the Lobito Corridor's development, enhancing regional trade connectivity and economic diversification prospects.
- Banking sector support for the 10,000 MW power project signals growing investor confidence in Zambia's infrastructure ambitions critical for sustained economic growth.