Zimbabwe Launches $9.1bn Energy Compact

Key Figures & Findings: Zimbabwe has unveiled a $9.13 billion National Energy Compact designed to drive sustainable energy development, economic growth, and long-term energy security. Announced by Energy Minister July Moyo at the Africa Capital Markets Forum in Sandton, the compact is anchored on five pillars, aligned with commitments made at the Dar es Salaam Summit. More than 200 stakeholders, including the World Bank, African Development Bank, and UN agencies, contributed to shaping the framework.

Statistics & Insights: The compact targets $4 billion in international support to close its funding gap. Major projects underway include a $350 million hydro power station extension and the $1 billion Hwange 670 MW expansion. Alongside large-scale projects, 371 unreticulated housing developments are being prioritized for electrification, while 21,000 hectares of wheat fields already benefit from a secured power supply.

Future Implications: If implemented fully, the compact could reposition Zimbabwe as a regional leader in energy reform by 2030, reducing reliance on the grid through private captive power systems and incentivizing renewable development with tax exemptions and reduced license fees. Success would enhance food security, expand rural electrification, and boost investor confidence in Zimbabwe’s energy sector.

Source: Herald Online

Quick Take: Zimbabwe’s $9.1bn Energy Compact aims to deliver power security, expand renewables, and attract global investment.