Zambia, Zimbabwe Seek Investment For New Energy Projects

Zambia and Zimbabwe will seek investment in power generation and cross-border grid projects to support mining and industrial growth at the third Zimbabwe-Zambia Energy Projects Summit in Livingstone from 3 to 5 November.

The Zim-Zam summit will be held at the Radisson Blu Mosi-Oa-Tunya and bring together government officials, utilities, financiers and project developers, following its launch in Victoria Falls in 2024 and a second edition in Livingstone in November 2025, EnergyNet said.

EnergyNet company, the Summit Organizer in a press release on Thursday announced that this year's talks will focus on how the two countries can attract Foreign Direct Investment (FDI) by improving regional electricity connections, building investor confidence and cooperating on energy development.

The talks come as mining companies look for more power for their operations.

EnergyNet said Copperbelt Energy Corporation is financing the second phase of its Itimpi project through a green bond programme on local capital markets, noting that First Quantum Minerals is working with independent power producers (IPPs) to supply its Zambian mining operations.

In Zimbabwe, state-owned ZESA Holdings said private power projects with a combined capacity of 635 megawatts are under construction, while another 730 megawatts are moving towards financial close, ZESA said.

EnergyNet said these developments will form part of the discussions on expanding generation capacity.

Abdoulaye Sylla, Group Deputy Director for Africa at EnergyNet, said both countries are at an important stage in their energy development, with reforms and investor interest creating opportunities that now need to become completed projects.

"The urgent need to diversify away from climate-vulnerable hydro towards solar and hybrid solutions," Sylla said, had positioned both countries as compelling investment destinations.

He said the summit aims to move talks beyond investment potential towards projects that can secure financing and go to construction.
"Zim-Zam is about turning that momentum into action," Sylla said.

He added that the priority is to attract foreign investment, reduce risks for IPPs and speed up projects that can secure financing, together with the infrastructure needed to move electricity across borders.

EnergyNet said the planned generation projects will also need transmission networks that can carry electricity between the two countries and into the Southern African Power Pool (SAPP), the regional electricity cooperation framework. It identified cross-border infrastructure and regional power trading as key areas for discussion.

Sherrill Byrne, Head of Project Finance in Energy and Infrastructure at Standard Bank Corporate and Investment Banking, said stronger regional connections would help countries share available energy resources and improve electricity supply.

"Regional integration is essential to unlocking Africa's full power and renewable-energy potential," Byrne said.
She said stronger transmission networks and coordinated electricity markets could also attract long-term investment, while better alignment of regulation, planning and infrastructure development could speed up delivery.

Byrne said these measures could support "reliable, affordable and cleaner power" for economic growth.

The summit will also review projects linked to mining and renewable energy, including the Lumwana Super Pit, Kansanshi S3 expansion, Chisamba Solar and Kariba Floating Solar, EnergyNet said. Project pipeline presentations from Zambia and Zimbabwe are also on the programme.

Aleem Tharani, Partner at Bowmans, said progress in regional electricity connections and investment rules is already helping projects advance across Southern Africa.

"Across the region, projects are reaching financial close, lenders are backing new offtake models and private capital is moving into transmission and trading," Tharani said.

Tharani said the summit will bring governments, utilities, financiers and developers together to review progress and look at further investment opportunities in energy projects.