© AP Photo / Themba Hadebe
Harare, Zimbabwe – The energy sector in Zimbabwe was significantly boosted by a $2 billion, 600 megawatt coal power project in Binga by Yuanlin Energy Investments, according to the Zimbabwe Investment and Development Agency (ZIDA).
This initiative was part of a larger investment total of US$2.71 billion in the energy sector for the first quarter, positioning Matabeleland North as the top province for investment. The project aims to enhance national energy security, particularly for the vital mining and manufacturing sectors.
Total projected investment across Zimbabwe reached US$4.7 billion in Q1. The energy sector led with $2.72 billion (57.39%), followed by Mining ($906.8 million, 19%) and Manufacturing ($877 million).
ZIDA CEO Tafadzwa Chinamo reported a 44.8% increase in new investment licenses issued during the quarter, indicating strong investor interest in mining, agriculture, and renewable energy.
Source: sputnikAfrica
