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Trust Freddy Herald Correspondent
ZB Financial Holdings is set to increase investment in alternative power, mainly solar, to ensure reliable service delivery during periods of power outages as well as reducing pressure on the national grid.
The company’s goal of becoming carbon neutral for its whole business and supply chains by 2030 will be advanced by increasing its green energy footprint, which will also lower energy costs.
Speaking on the side-lines of the official launch of a new service centre in Gweru recently, ZB Group chief executive officer Mr Shepherd Fungura said green energy would be one of the group’s key priority areas this year.
“One of our key focus areas is to invest into solar,” said Mr Fungura.
“We have thus far been able to start the project of investment in solar by lighting up our own business enterprise.
“So we are actually working on that particular issue to make sure that we have energy that we self-generate so we can lessen burden on Zesa.”
Mr Fungura said the initiative will also complement efforts by other stakeholders in the energy sector in terms of providing safe and reliable energy particularly at a time when the nation is fighting to mitigate effects of climate change.
ZB will also be assisting miners to go green as part of the financial institution’s continuous support to key economic sectors such as agriculture and mining.
“In terms of mining, we want to make sure that they can generate their own solar energy so that they can be able to add to the national generation of energy,” said Mr Fungura.
“That is one of the key areas of investment that we are involved in, and we also have partners that are supporting this initiative because going green is attracting much investment.”
To reduce the negative impact of the national power deficit on operations, most companies are beginning to invest in alternative sources of energy, mainly solar energy.
Apart from investing in green energy, ZB is looking at developing residential houses in Plumtree and Beitbridge as part of its contribution to reducing the huge housing backlog estimated at 1,5 million.
Said Mr Fungura: “In terms of the housing intentions that we have, there are two projects we have consummated in Plumtree and Beitbridge and we do think that we are looking at something like US$5 million to be implemented in terms of funding housing initiatives in those areas.
“We do think that is going to be substantial in those communities because some of the communities are usually ignored as we develop areas such as Harare and in Bulawayo.”
Online Reporter