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Saturday, June 22, 2024

Local financial house sets up US multi-million dollar green energy fund

Story by Theophilus Chuma, Features Editor

ZIMBABWE’s renewable energy initiative is attracting investors, with a local financial institution setting up a multi-million United States dollar facility towards green energy.

Ahead of the Renewable Energy Summit to be held this month, the private sector is driving massive investments in green energy to achieve net zero, one of the key positions to fight climate change.

The local financial firm, ZB Financial Holdings is the latest investment vehicle in green energy with a confirmation that regional powerhouse Afreximbank is ready to provide lines of credit to fund key projects.

On the sidelines of launching its service centre in Gweru, the firm outlined some of the strategic portfolios it will be targeting.

“This year, one of our key focus areas is to invest green into solar. We shall be working with mining partners we want to make sure that in terms of mining, they can also generate their power.

“We also have partners who are willing to invest in this area. One of our partners, Afreximbank has already indicated that they are ready to partner with us, especially in green energy investments but we are open to other local players so that we can syndicate these investments,” said ZB Financial Holdings Group Chief Executive Officer, Mr Shepherd Fungura.

Other investments will be unlocked in the housing infrastructure.

The government has set up a National Renewable Energy Policy with a call to investors to partner in the implementation of renewable energy projects.

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