Zimbabwe's sweeping energy sector reforms are boosting investor confidence and positioning the country as one of Africa's emerging power investment destinations, with the Energy Forum for Africa (EFFA) saying policy and regulatory changes have created a more attractive environment for private capital.
Speaking at the inaugural Zimbabwe Energy Conference on Friday, EFFA chief executive officer Hope Chanda said Zimbabwe had shifted from managing an electricity crisis to laying the foundations for long-term energy security and investment-led growth.
"This is no longer a government managing a crisis. It is a government engineering a comeback to energy sufficiency and energy security," Chanda said.
Zimbabwe is seeking to bridge an estimated US$10 billion investment gap in the energy sector through its US$16,8 billion National Energy Compact, which aims to expand electricity generation, modernise transmission infrastructure and accelerate the transition to cleaner energy.
Chanda said the government's rollout of eight governance frameworks within a year—including standards for solar products, appliance efficiency, energy management systems and electric vehicle charging infrastructure—had strengthened the regulatory environment and improved investor confidence.
She described the licensing of independent power producers (IPPs) to generate, distribute and retail electricity as a landmark reform that marked a decisive break from Zimbabwe's long-standing state-dominated electricity market.
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"That was once a dream. Today it is a reality. Duty-free solar equipment, cost-reflective tariffs and the anticipated introduction of competitive bidding will make energy investments commercially viable," she said.
Chanda also hailed growing cooperation between Zimbabwe and Zambia through the Zambezi River Authority and the proposed Batoka Gorge Hydro Electric Scheme, saying regional collaboration was key to improving Southern Africa's energy security.
She said Zesa Holdings was also making progress in restoring its commercial viability through smart metering, modernised billing systems, new generation projects and partnerships with private investors and development financiers.
"Zesa is no longer just Zimbabwe's electricity utility. It is becoming a bankable partner," Chanda said.
She urged governments, utilities, financiers and developers to work together to unlock Africa's abundant renewable energy resources.
"Africa has the sun, the rivers, the minerals and, above all, the human capital to solve its own energy problems. Nobody is coming to rescue us. We are the rescue ourselves."
Drawing on Zambia's experience, Chanda said coordinated engagement between policymakers, financiers and developers had helped increase the country's installed solar capacity from about 130 megawatts (MW) in 2024 to more than 600MW within two years.
"This is what happens when the right financiers, developers and regulators come together. Every deal signed, every partnership created and every project financed moves Africa closer to reliable and affordable electricity. There is no competition in the energy sector—only collaboration."
She said sustained partnerships between government, utilities, independent power producers, investors and development finance institutions would be crucial if Zimbabwe is to mobilise the capital needed to eliminate power shortages, expand electricity access and support industrial growth.