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PROCEEDINGS have started at the inaugural Zimbabwe-Zambia (Zim-Zam) Energy Projects Summit here, with the first panel unpacking blended financing as the catalyst to universal access to electricity for all including rural areas.
This comes as both countries need billions of United States dollars for on grid and off grid projects.

Mr Paul van Aalst, Team Leader for GET Invest Finance Catalyst is the moderator for the panel which includes Ms Felister Makumbinde, who is the acting Chief Executive Officer for the Rural Electrification Agency (REA) in Zimbabwe, Mr Alex Mbumba who is director for Engineering Services, Rural Electrification Authority (REA) of Zambia, Mr Isaiah Nyakusendwa, the chairman of Renewable Energy Association of Zimbabwe (REAZ), Mr Joseph Mutale, chairman of Zambia Renewable Energy Association (ZARENA), Mr Collin Gumbu the Policy and Advocacy Lead, GOGLA, Mr Richard Harrison the Lead, Zambia Mini-Grid Initiative, Power and Climate Team, Rockefeller Foundation.
The session seeks to unpack financing models and opportunity for energy in the two countries where electricity is a challenge as a result of climate change which affect the major hydroelectric source on Lake Kariba.
In her opening remark, Ms Makumbinde said Government needs private sector involvement to address energy challenges.
“We need to pursue the blended finance in the rural areas. The resources are scarce, Government alone will not be able to electrify all the rural areas hence the need for blended financing. We need private sector,” she said.
The meeting tries to help energy experts to think boldly on how to navigate the emerging challenges and forge partnerships.
The challenges are great, and accessing electricity is a problem, hence the need to create and make an impact on millions of Africans through blended finance.
Mr Mutale said: “The amount of funds that we need now until 2030 is US$11 billion, these are huge numbers, which includes both on grid and off grid. For us to achieve universal access by 2030 we need on grid over US$3 billion.”
He said the bankability of projects is a challenge.
He said a procurement framework is needed to ensure a transparent and well-structured process.