ZIMBABWE is expected to generate an additional 5,000 megawatts of electricity by 2020, easing its perennial power deficit on the back of new projects and the resuscitation of existing stations, President Robert Mugabe said on Tuesday.
Mugabe told lawmakers during the opening of the second session of the Eighth Parliament that the completion of several power projects which are currently underway would ignite economic growth in line with the country’s economic blueprint, ZimAsset.
Zimbabwe is currently generating 940MW against peak demand of about 2000MW, resulting in frequent power cuts that hit mines, industry and households.
“The successful implementation of Zim-Asset hinges on the provision of adequate energy to all sectors of the economy. To this end, therefore, various initiatives to boost power generation are at varying stages of implementation,” Mugabe said.
“These include the Kariba South expansion project, the ZPC/Sinohydro Hwange Thermal Power Station Units 7 and 8 project, and several other smaller projects which, when complete, should yield a total of 5,000 megawatts by 2020.”
He said the setting up of special economic zones during the current session would also stimulate foreign direct investment, technology transfer and employment generation.
Mugabe said the mining sector, now the mainstay of the economy, would continue to drive economic growth despite a downward revision in its growth projections.
The mining sector, now accounting for over 60 percent of foreign currency generated is seen registering a negative 1,9 percent growth – after an initial growth projection of 10,7 percent for the year – due to weakening commodity prices.Advertisement