Govt to mobilise US$16.8bn to deliver universal electricity access by 2030

STAFF WRITER

Energy and Power Development Minister July Moyo has revealed that  the government plans to mobilise US$16.8bn to achieve universal access to electricity and clean energy by 2030.

Speaking at the World Bank Spring Meetings in Washington DC, United States of America, Minister Moyo presented Zimbabwe’s National Energy Compact—a transformative blueprint to end energy poverty, accelerate investment, and build climate resilience.

“Our government is undertaking a raft of measures geared towards accelerating the attainment of universal to electricity and clean cooking,” said Minister Moyo.

“These include attainment of cost reflective tariffs to recover all efficient costs thereby improving credit worthiness and viability of the power utility and its capacity to offtake power from private developers, program for installation of smart and prepaid metering that provides 100% collection of revenue, third party access for non-discriminatory access to the national  grid to allow private sector project developers to supply power to any customer of choice, among many others.

To realise its energy ambitions, the government has set ambitious targets including the achievement of 100% household electricity access by 2030 through a combination of on-grid, mini-grid and standalone solar systems and mobilise over US$16.8bn in investment.”

The financial breakdown of the US$16.8bn mobilisation includes US$11.3bn for electricity generation—90% of which is expected to come from private sector players.

Grid infrastructure expansion will require US$2.97bn in public investment, while clean cooking initiatives will receive US$791.5bn, primarily from private sources.

The compact forms part of the African Union’s Mission 300 initiative, a continent-wide drive to connect 300 million people to electricity by 2030. Zimbabwe endorsed the initiative at the Africa Heads of State Energy Summit in Dar es Salaam earlier this year, joining other countries in committing to fast-track energy access.

Currently, Zimbabwe produces an average of 1,400 megawatts of electricity—well below its peak demand of 1,900 megawatts.

This 500-megawatt deficit has become a chronic constraint on economic activity. While 87% of urban households have access to power, rural electrification lags significantly at just 27%, leaving more than 600,000 households without electricity. Zimbabwe’s energy mix consists of 43% renewables and 57% thermal generation, with hydroelectric output increasingly vulnerable to climate shocks.

Against this backdrop, the government is embarking on a comprehensive reform agenda to modernise the energy sector and unlock private investment.

Key interventions include the introduction of cost-reflective tariffs to ensure utility viability, nationwide rollout of prepaid and smart metering to improve revenue collection, and regulatory reforms that allow independent power producers to access the national grid on a non-discriminatory basis.

The government is also reviewing the National Energy Policy, launching a National Energy Efficiency Policy, and restructuring state-owned utilities to boost operational efficiency.

A government-backed project support framework is being introduced to de-risk energy investments and attract long-term capital.

Minister Moyo said Zimbabwe offers compelling opportunities in large-scale solar, wind, hydro, biomass, and waste-to-energy, as well as regional power trade, infrastructure rehabilitation, and local manufacturing. “The Government of Zimbabwe calls upon development partners, the private sector, and civil society to partner with us on this transformative journey,” he said.

“Together, we can accelerate energy access, enhance sustainability and build a resilient energy future that leaves no one and no place behind.”