Headline : ZANACO develops new energy financing product

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By CHATULA KANGALITHE Zambia National Commercial Bank (ZANACO) says it is helping in the transition of Zambia to a cleaner and sustainable energy source which is resilient to climate change through the provision of solar energy financing.The bank said it had developed a new product for energy financing to respond to the current energy needs on the market.Executive Head-Client Solutions Chanda Katongo said with the current energy gap the financial institution had come up with a solution based on alternative power that was clean and resilient to climate change.“So we did come up with alternative solar financing and we have worked on our interest rates and we are delivering that to our customers at lower interest rate which is specifically 19 percent but our customers are also able to get that facility for a period of 72 months which it is very good for our customers ,” she said.

By JUDITH NAMUTOWE
 - THE Zambezi River Authority (ZRA) has said the feasibility study on the Batoka Hydropower Station has been reviewed. ZRA chief executive officer Munyaradzi Munodawafa said in an interview yesterday that the review on the demo structure, power house and capacity output on the project had been completed. Mr Munodawafa said the authority was currently waiting for the second phase of the Environmental Impact Assessment (EIA). ‘‘We have reviewed the Batoka Hydropower Station feasibility study. The study on the demo structure, power house structure and the capacity output on the project has been completed,’’ Mr Munodawafa said. He said the finalisation of the study and the EIA was expected to be completed in the first quarter of 2015. Mr Munodawfa said consultants were currently working on other processes and thereafter the project committee which include senior Government officials , utilities and ZRA would visit the project this month. He said once all these processes were completed, ZRA would then be able to select the developer for the project, after which the authority would be able to come up with the actual value of the project. Zambia and Zimbabwe signed a Memorandum of Understanding (MoU) to team up and start the Batoka hydropower project which is estimated to cost about US$4 billion. The agreement was signed during the council of ministers held at Kariba in Siavonga recently.

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