Ana Hadjuka honoured for pioneering Zambia’s debt-for-energy financing

The debt transaction is expected to generate savings that Government will use to finance the Grid Resilience Programme, effectively converting part of future debt-service obligations into investment in critical energy infrastructure.

The programme will focus on reducing technical losses, eliminating network bottlenecks, improving electricity reliability and expanding access to underserved communities and businesses.

It will also support the integration of renewable energy, including solar generation and battery storage, as Zambia seeks to build a more diversified and climate-resilient energy system.

Government has said strengthening the electricity network is critical to its ambition of positioning Zambia as a regional energy hub, particularly as the country seeks to expand copper production, diversify the economy and attract investment.

The improved grid is also expected to strengthen Zambia’s capacity to manage power supply shocks, facilitate regional electricity trading through the Southern African Power Pool and optimise electricity imports and exports when necessary.

GreenCo Power Services, a member of the Africa GreenCo Group, has been identified to coordinate implementation of the programme, while oversight will be provided by ZamGridCo, a newly established entity.

ZamGridCo will operate under a dedicated institutional framework governed by a board comprising private-sector representatives and Government nominees.

Nkulukusa said the governance structure was designed to promote transparency, accountability, technical excellence and efficient delivery of the programme.

The June statement also credited the AfDB for supporting the debt repurchase, describing the transaction as an example of how innovative financing can simultaneously advance debt sustainability, strengthen critical infrastructure and support long-term economic development.

The recognition of Hadjuka comes as Zambia seeks to demonstrate how innovative financial instruments can turn debt-management gains into tangible investment in the energy sector.

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