Zambia needs other sources of power, says Seshemani

Zambia needs other sources of power, says Seshemani
By Kabanda Chulu
Saturday January 26, 2008 [03:00]

ZAMBIA Chambers of Commerce and Industry (ZACCI) chairman Hanson Sindowe has said the country risks losing the economic gains recorded if new electricity generation plants are not developed to meet the current required demand. And University of Zambia Economics lecturer Professor Venkatesh Seshamani has said the country should look for alternative and cheaper sources of power such as nuclear energy. Sindowe said there was need to urgently attract investment in the sector in order to sustain the economic growth being recorded.

“Our immediate concern which requires much attention is that if Zambia does not move fast enough to have new power generation plants to meet required demand, the country risks to lose all the economic gains she has recorded during the past few years,” he said.

Sindowe, who is also Copperbelt Energy Corporation executive chairman, said the company’s long term plan was to enter into partnership with other entities in power generation operations.

“We are talking to various entities that we want to partner with for the purpose of developing power generation projects but it is too early to disclose any information since discussions are underway, but participating in electricity generation is part of our long-term plans,” he said.

And Prof Seshamani said uranium mining provided the prospects for a long-term solution in terms of an alternative and cheaper source of energy for Zambia.

“The Lumwana copper mines are known to have significant deposits of uranium that are mixed with the copper deposits. So along with the mining of copper, uranium can also be mined. Indeed, Zambia is planning to mine and export uranium which would bring high returns to the country especially since the international price of uranium has risen nearly ten-fold over the past decade,” said Prof Seshamani.

“But Zambia must not be content with mining and exporting uranium. She must see how the uranium can be used within the country itself to provide nuclear energy which would be cleaner, enduring and economical in the long-run.”

And Lusaka businessman Mark O’Donnell said the country should focus on attracting more investments in the power sector as a means of mitigating electricity problems.

“We need to see more investment in electrical power generation since dam sites have been known for many decades, yet the last time we built a dam was in the 1970’s. There should be no further delay in investing in more power generation.

There is an abundance of private capital in the world and to mobilise some of this to invest in electrical power generation is not a huge challenge, but why do we fear using this foreign capital?” O’Donnell asked.