Story by Stanley James, Business Editor
ZIMBABWE and Mozambique continue to strengthen bilateral ties after signing a Memorandum of Understanding (MOU) for cooperation in the energy sector.
The MOU signed this Thursday by the Minister of Energy and Power Development, Honourable July Moyo and Mozambique’s Minister of Mines and Energy, Mr Estavao Pale, seeks to establish cooperation in electricity, petroleum investment and renewable energy projects between the two countries.
It is also expected to promote trade in the energy industry value chains.
Honourable Moyo told delegates at the signing ceremony that Zimbabwe is committed to implementation of the MOU.
“Zimbabwe and Mozambique have collaborated in many areas. It is important that we now deepen this cooperation in electricity and petroleum. This MOU facilitates joint infrastructure developments, one of which is already underway, the upgrading of the Beira–Feruka corridor.
“We aim to ensure that our utilities are well-coordinated and strengthened. Zimbabwe imports a significant amount of electricity from Mozambique, and this agreement allows us to expand our partnership in connectivity and infrastructure,” said Minister Moyo.
With statistics showing that electricity tops the value of imports by Zimbabwe from Mozambique, the MOU intends to facilitate more collaboration in local power sector projects.
The agreement is also expected to facilitate more trade in petroleum products, use of petroleum infrastructure, and investments in gas, electricity and energy efficiency, among others.
