The Ministry of Natural Resources, Energy, and Mining has embarked on a review of the country’s outdated energy policy to bring the private sector into power generation, distribution and transmission.
Principal Secretary in the ministry, Ben Botolo, said on Thursday his ministry has discovered that there are other players in the power generation and distribution sector that can complement Escom in filling the power gap the country is experiencing.
Said Botolo: “We are currently reviewing the policy so as to accommodate other players. We want private companies that have the capacity to generate, distribute and transmit power to join the fray.”
Malawi Investment Trade Centre (Mitc) chief executive officer Clement Kumbemba said of the total investment commitments recorded last year, the largest investment commitments went to the energy sector, seconded by the mining sector.
He said: “We are happy to report that in 2014 we managed to attract 36 companies who have committed investment projects totalling to close to K1.8 billion and we believe that in 2015 we will surpass the figure.”