M a r k e t N e w s
Zambia, Kenya and Tanzania sign US$1.2bn MoU for power interconnectivity
Posted on : Friday , 19th December 2014
The governments of Zambia, Kenya and Tanzania have signed an MoU for US$1.2bn to for a power interconnector project between the three countries.
The upcoming project would link the Eastern African Power Pool with the Southern African Power Pool.
Christopher Yaluma, minister of mines, energy and water development in Zambia said the agreement signed would set out principles that underlined the relationship amongst the three governments of Zambia, Kenya and Tanzania. Once completed, the project would promote electricity trade, enhance security of electricity supply and foster regional trade.
Additionally, Yaluma appealed to development partners to financially support the project, which is expected to begin in December 2015 and completed in December 2018. Some of the developing partners included the European Union (EU), COMESA, the Norwegian Fund, World Bank, African Development Bank (AfDB) and China Development bank.
A similar interconnectivity project between Mozambique, South Africa and Zimbabwe was initiated in October 2014.
Sospeter Muhongo, ministers of energy and minerals in Tanzania, “Africa is still faced with a number of challenges in the education sector, infrastructure development and finances among others. A key challenge is electricity, which is a major factor to development. 50 per cent of Africa’s population lives in rural areas and had no access to electricity.”
An investment of between US$500bn is required to meet the challenges as a region to meet some of these challenges. By 2030, both rural and urban Africa must have access to electricity, he added.
Source : africanreview.com
