Fresh calls for increased investment in energy

Development experts and academics have revived calls for increased investment in the energy sector, cautioning that Malawi cannot grow economically with a ragged power generation capacity.

The calls came in Lilongwe yesterday during a symposium focusing on oil and gas exploration which the National Defence College (NDC) in collaboration with the Malawi University of Science and Technology (Must) and the National Planning Commission (NPC) conducted.

Delivering a keynote address, University of Malawi deputy vice-chancellor Sunduzwayo Madise said the energy sector holds the key to the country’s socio-economic development.

“Energy production can make countries rich, but it’s not going to be done overnight. We need to invest heavily. It is a process that is complex.  It takes time,” he said.

An engineer and lawyer by profession, Madise said much as the country was making progress on the renewable energy front, there was need to focus on large-scale projects.

He said: “There are projects that are being done for example solar and wind energy. Those could be done in a short period.

“However, we need to start investing heavily for huge power generation. The government needs to come on board, the private sector needs to come on board.”

Madise further said the energy regulator needs to strike the balance on pricing in order to attract investors.

“If our energy prices remain low it will be difficult for investors to come in but then if it becomes too high it will be out of the reach of most Malawians,” he explained.

Taking his turn, NPC director general Thomas Chataghalala Munthali said for the country to achieve the Malawi 2063, it needs to scale up its power generation beyond its current 439 megawatts capacity.

Must vice-chancellor Address Malata said they organised the symposium to chart a path for advancing research in the energy sector to ensure it is more productive.

The event also marked the launch of the Centre for Strategic Studies at the Malawi Defence Force’s NDC which has partnered Must to advance energy sector reserve.

Nico Holdings plc sponsored the symposium with K25 million and its group managing director Vizenge Kumwenda said the event was critical  to shaping the nation’s future; hence, their support.