Zimbabwe joins global energy forum

ZIMBABWE has been integrated as a full member of the International Energy Forum (IEF) bringing the total number of member countries to 73.

The organisation’s mission is to promote energy security through dialogue between producers and consumers.

IEF is the world’s largest body of energy ministers, accounting for more than 90 percent of global energy trade.

Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, who participated in the recent signing ceremony in Riyadh, Saudi Arabia, was quoted as saying he is pleased that Zimbabwe is part of an initiative that seeks to address energy issues.

“Zimbabwe is pleased to join the International Energy Forum to promote dialogue with fellow members on pressing energy issues,” said Prof Ncube in a statement issued by the IEF communications unit yesterday.

“Closer collaboration with the top actors in the global energy market is of great value to Zimbabwe as we seek to reduce energy poverty and enhance energy security, while facing up to the challenges caused by price inflation, climate change and geo-political uncertainty,” he said.

The IEF was founded 33 years ago with the objective to promote dialogue between members of the International Energy Agency and the Organization of the Petroleum exporting countries.

Today, the IEF has more members that both groups combined, including many unaligned countries including Argentina, China, India and South Africa. It is expected to hold its 17th ministerial meeting in May this year.

Commenting, IEF secretary general Mr Joseph McMonigle said they were pleased to welcome Zimbabwe as a full member, which brings their community of African members to 23 countries.

“The IEF is committed to ensuring that Zimbabwe’s and Africa’s voices are heard in the global energy dialogue, especially the urgent need to scale up the supply of reliable and affordable energy to eradicate energy poverty, which is a prerequisite for development,” he said.

“We also look forward to collaborating with Zimbabwe on the energy transition, exploring how it can expand the electricity grid to integrate new base load and renewable energy sources.”

With 73 member countries, the IEF accounts for 90 percent of the world energy market and is the global home of energy dialogue promoting energy security, market stability and transparency and the energy transition.