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Enacy Mapakame
Energy development will take centre stage at the Chartered Accountants of Zimbabwe (ICAZ) Winter School in South Africa as the country seeks investments and sustainable solutions to the obtaining power challenges that are bedevilling the economy.
The country is currently seized with power shortages subjecting both domestic and industrial consumers to long hours of black outs.
Erratic power supplies have been cited as one of the major challenges affecting industry capacity, with companies cutting on production time while others incur increased operational costs as they resort to costlier alternative energy sources.
The ICAZ Winter School, core-hosted by Financial Markets Indaba (FMI) in South Africa, will table energy development as one of the major topics.
Energy and Power Development Minister Fortune Chasi is expected to preside over these discussions. One of the key topics will be Renewable Energy Policy and Investing in Zimbabwe’s Energy Sector while ZESA acting chief executive officer Patrick Chivaura will host discussion on “Zimbabwe Electricity Challenge, Lasting Solutions”.
Zimbabwe has been battling power shortages for almost two decades, and is now looking to clean energy such as solar and imports to make up the gap, at least in the short-term.
Power utility ZESA says it is able to meet only a small fraction of the 1 800-megawatt demand due to frequent breakdowns and low water levels at Lake Kariba.
FMI business development executive Patrick Muzondo said the conference that will be held from August 29 to September 1, 2019, will be a platform for collaboration presenting the opportunities Zimbabwe has to offer to the global village.
“Attending the conference is the most efficient and least costly way to meet with over 150 companies represented at this conference. Attendees will learn more about what’s happening in Zimbabwe with the energy sector being top of the list.
“Senior Government officials will engage with renewable energy project developers, financiers and promoters deliberating on consultative candid conversations on state of the energy industry in Zimbabwe,” said Muzondo.
Apart from energy development, delegates will also explore the need for businesses in Zimbabwe to disrupt the uncertain economic environment in order to excel locally and globally.
Focus will, therefore, be on attracting investment into the country through showcasing the opportunities available, unpacking the suitable business models and innovations that could reignite Zimbabwean industries and position them for greater economic growth.
This is also in line with the “Zimbabwe is Open for Business” mantra.
Other key areas the conference will explore include successes and areas of growth through the Internet of Things (IoT), fintech, agritech, health and insure-tech which is in line with the theme “Disruptive Innovation — Investing for Growth.”
The Winter School is the Institute’s flagship event held annually and it is the biggest event on the ICAZ calendar. This year it comes at a time ICAZ has just celebrated its centenary.
Core-hosts, FMI is a series of investment conferences convened under Indaba Africa, an Emergent Research network of interactive conferences that seeks to profile the investment potential of Zimbabwe and Africa.
Bongani Ndlovu