BY XOLISANI NCUBE
Government says it is ready to partner with independent power producers (IPP) on a build-operate and transfer (BOT) model to boost electricity production in the country.
Speaking at the Zimbabwe Investment Summit in Harare, organised by Global Renaissance, Energy deputy minister Magna Mudyiwa said government had revised the IPP policy to lure investors into the energy sector.
“We do not have enough capital to undertake new projects, but we have various opportunities and we are saying people can come and do the BOT kind of model.
Those with money, we are ready to work and ensure we have enough energy to fire up our industry,” she said.
The summit, held yesterday was aimed at unlocking investment opportunities, especially in local authorities.
Mudyiwa said the country was focusing more on renewable energy and effective use of the available energy projects to avoid leakages and reduce the import bill.
Local Government deputy minister Jennifer Mhlanga said private investors were welcome to partner local authorities in various sectors such as waste management and water as well as in the agricultural sector.
Mhlanga said under President Emmerson Mnangagwa’s administration, officials who were awarding tenders to their cronies were being prosecuted.
“You may have noticed that those who were busy engaging in corrupt activities are now facing the full wrath of the law. The law might seem slow, but it will catch up with you. The Office of the President has taken it upon itself to ensure that corruption becomes a thing of the past,” she said.