Minister Chikote, IFC Explore Expanded Energy Investment Opportunities in Zambia
Minister of Energy Hon. Makozo Chikote has held strategic talks with the International Finance Corporation (IFC), a member of the World Bank Group, aimed at accelerating investment in Zambia’s energy sector and improving access to reliable electricity across the country.
The high-level meeting, held in Lusaka, brought together Minister Chikote, senior officials from the Ministry of Energy, and an IFC delegation led by Country Manager Madalo Minofu. Discussions focused on expanding collaboration in energy infrastructure, with a particular emphasis on off-grid and renewable energy solutions for rural and underserved communities.
Minister Chikote reaffirmed the Government’s commitment to diversifying Zambia’s energy mix and meeting President Hakainde Hichilema’s target of adding 1,000 megawatts of electricity to the national grid by December 2025.
He highlighted recent regulatory reforms designed to improve the investment climate, noting that a competitive and investor-friendly environment is key to sustainable growth in the sector.
“We are determined to make Zambia a hub for clean, affordable, and reliable energy. The private sector, especially institutions like the IFC, are vital partners in achieving this vision,” said Hon. Chikote.
Ms. Minofu commended the Government’s efforts to create enabling conditions for investment and pointed to the Kalumbila-Kolwezi Interconnector Project (KKIP) as a prime example of IFC’s ongoing commitment. The KKIP, launched in North-Western Province, is expected to boost regional power trade and enhance energy security.
“IFC is keen to support Zambia’s energy ambitions, but sustained progress requires economic stability and policy predictability to attract and retain long-term capital,” she noted.
The meeting also included technical updates on ongoing energy reforms and highlighted new opportunities for private sector participation. Both parties agreed to continue dialogue and collaboration to advance Zambia’s energy transition agenda.
