Online Reporter
Nelson Gahadza
Zimpapers Business Hub
ZIMBABWE has developed an energy compact with the African Development Bank (AfDB) and the World Bank under the Mission 300 initiative, whose aim is to ensure all citizens have access to reliable, affordable, and sustainable energy by 2030.
The US$5 billion Mission 300 is a joint initiative by the World Bank and the African Development Bank (AfDB) to connect 300 million people in Sub-Saharan Africa to electricity by 2030.
It aims to accelerate energy access, ensure reliable and affordable power, and promote economic growth and job creation, and is supported by various partners, including governments, the private sector, and civil society organisations.
Finance, Economic Development, and Investment Promotion Minister Professor Mthuli Ncube, presenting the mid-term budget review, said the Energy Compact program underscores the country’s commitment to achieving universal access to reliable, affordable, and sustainable energy.
“Despite the country’s abundant renewable energy resources, a significant number of the rural population remain without electricity.
“The prevailing reliance on traditional biomass for cooking not only hampers social and economic development but also exacerbates environmental degradation and gender inequality.
“Government is committed to addressing energy deficits in order to ensure optimal power supply essential for industrial growth, improving health outcomes, advancing education, and fostering environmental sustainability,” he said.
