Minister Moyo pitches Zim’s energy investment agenda at Abu Dhabi global summit

SAMANTHA MADE

Energy and Power Development Minister, July Moyo, is in the United Arab Emirates this week for the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), one of the world’s most influential energy summits, where he is championing the country’s vision for energy security, diversification, and private-sector investment.

The high-profile event, which opened yesterday, has drawn 45 ministers, 250 C-suite executives, and 1,800 speakers from across the globe.

This year’s edition centres on innovation, youth engagement, and global collaboration, themes that speak to the urgent rebalancing of global energy systems amid shifting geopolitics and the accelerating transition toward low-carbon economies.

For Zimbabwe, Moyo’s participation marks a critical moment to position the country as an emerging destination for energy investment. “The government of Zimbabwe signs a government support agreement with all investors in the energy sector which gives tax incentives as well as making sure that they can externalize and amortize their loans if they have loans and also guarantees their remitability of profits,” Moyo told reporters in Abu Dhabi.

He added that the government was working to create an environment conducive to both domestic and foreign capital. “Secondly, the capital markets in Zimbabwe can partner with international markets in order to go into renewables or to go into capital power production. That means if you bring money, you can also look at money that can be supported by pension schemes, insurance schemes in Zimbabwe.”

The push for energy independence comes as Zimbabwe — like much of southern Africa — struggles with chronic electricity shortages that have constrained industrial productivity and slowed economic growth. “In Zimbabwe and Southern Africa, we have a shortage of energy, especially electricity, to sustain the growth that is taking place in mining, in industry, in agriculture. And so, security of supply is one of our major challenges,” Moyo said.

He noted that Harare has opened up power generation and distribution to private investors in a bid to expand access and boost generation capacity. “We have opened up our generation to the private sector. We have opened up our distribution to the private sector in order to reach the number of people who are not accessing energy. So generation, transmission, distribution — we have opened up to the private sector. At the same time, we are very mindful of affordability,” he said.

To balance investor returns with social equity, the government has introduced cost-reflective tariffs, disaggregating charges across the energy value chain. “We are making sure that our cost-reflective tariffs are disaggregated such that if you enter the generation, transmission, distribution, and retail, you know what costs you, how much money you will be getting as a business. That’s how we are attracting business,” Moyo explained.

The policy is intended to give investors clarity and confidence, while protecting consumers from arbitrary price increases — a delicate balancing act for a nation eager to industrialise yet still grappling with high inflation and limited foreign currency reserves.

ADIPEC, hosted under the patronage of the UAE government, comes at a time when energy security has become a defining concern for both developed and developing economies. Global supply chain disruptions, volatile fuel prices, and geopolitical tensions have exposed the fragility of traditional energy systems — prompting countries to diversify sources, secure critical minerals, and accelerate investment in clean technologies.

This year’s summit seeks to forge pathways toward a “resilient and intelligent energy future”, with participants exploring how innovation and policy coherence can drive equitable progress in the global energy transition. The session that Moyo will join focuses on the intersection of geopolitics, trade realignments, and energy diversification — issues with direct implications for Africa’s industrialisation and access to sustainable power.

Zimbabwe’s energy sector remains heavily dependent on ageing thermal power stations and hydropower from the Kariba Dam, which has faced erratic output due to low water levels. To close the supply gap, the government has been courting private investors for solar, wind, and gas projects, while also strengthening ties with regional partners through the Southern African Power Pool (SAPP) — a mechanism for cross-border electricity trading.

“To put it very simply, we need security of supply, and that is our major problem. Secondly, we need transmissions and distribution that can reach our people. And thirdly, we need to ensure that there is affordability so that our people have correct access,” Moyo said.