Banks, govt confer on solution to power shortage

Standard Bank in collaboration with the Ministry of Energy, Millennium Challenge Account (MCA), Africa Development Bank (AfDB) and the World Bank have organised an International Power Conference at Bingu International Conference which began yesterday and will end tomorrow.

The three-day conference, which has drawn together 180 delegates, will see experts and professionals deliberate on how to build sustainable, reliable and affordable power for Malawi.

Newly appointed Standard Bank chief executive officer Andrew Mashanda said the lack of reliable and affordable power supply remains a key impediment to the socio-economic development and growth in Africa and Malawi is no exception to this assertion.

“The significance of power as a catalyst to the socio economic development and growth for Malawi cannot be possibly overemphasised at this juncture. We hope that this conference will afford a unique opportunity to all participants to not only appreciate the abundant natural resources in this country but also provide opportunities to leverage these natural resources for the social-economic development and growth,” said Mashanda addressing journalists in Lilongwe prior to the conference.

AfDB country representative Andrew Mwaba said the power conference is the right place for the bank and other partners to participate in to build the right synergies to support the development of the power sector.

“We have among us, government representatives, power utilities, private sector operators, development agencies and other stakeholders. The occasion provides the opportunity for exchanging knowledge and building partnerships to develop the power sector in Malawi and the region,” said Mwaba.

Apart from supporting the power conference AfDB is currently supporting the Kholombizo Hydro Plant and plans to co-finance the Malawi-Mozambique Interconnection project.

Principal Secretary (PS) in the Ministry of Energy Winford Masanjala expressed gratitude to Standard Bank and AfDB for the conference, saying it will go a long way in solving the power problem in the country.

“The conference has coincided with the commemoration of the Word Energy Day. We look forward to successful deliberations that will transform the power sector,” said Masanjala.