Stanbic CEO sees solar, grid investment as key to Zambia’s economic transformation

Siakalima said solar power should remain a major focus of investment, noting that Zambia had added about 1,000 MW of solar generation capacity over the past year.

He added that the next phase of investment should focus not only on adding generation capacity but also on ensuring that the electricity grid could absorb and distribute the additional power.

“We also need to work on the grid,” he said, highlighting the need to strengthen transmission infrastructure and improve the resilience of the distribution network.

The expansion of transmission infrastructure would also be important for Zambia’s ability to move electricity within the country and support future power exports, he said.

Siakalima cautioned that increasing generation without strengthening distribution networks could result in power being lost because of inadequate infrastructure.

He also called for greater investment in off-grid electricity solutions, particularly in rural areas where extending the national grid could take longer.

Such systems could help provide electricity to emerging agricultural areas and farming blocks while larger transmission and distribution projects are being developed, he said.

“How do we develop those before the power gets there?” Siakalima said, referring to areas where new agricultural activity is being developed.

He said smaller-scale power solutions could help open up those areas to economic activity ahead of the arrival of grid electricity.

Siakalima noted that Zambia’s recent policy and regulatory reforms had helped create a more favourable environment for investment in the energy sector, and called for the momentum to continue.

The investments in solar generation, transmission, distribution and off-grid solutions would collectively help provide the electricity infrastructure needed to support Zambia’s broader economic ambitions over the next five years, he said.

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