Minister of Energy Ibrahim Matola has called for coordinated and urgent to unlock energy financing to guarantee energy security for all Malawians.
Speaking on Wednesday in Mangochi District during the opening of the Fourth National Energy Conference, the minister emphasised the importance of joint efforts to meet the country’s ambitious energy access targets.
Matola said government is committed to achieving a 70 percent electricity access rate by 2030 and highlighted the role of sustainable investments in realising that goal.
“I urge everyone to rally behind the government’s commitment to securing sustainable investments that will assist in developing the nation,” he said.
Renewable Energy Industries Association of Malawi president Brave Mhone commended the current renewable energy status, describing it as impressive and that it needs to be sustained if the country is to progress.
But he said the foreign exchange scarcity and economic instability are some of the drawbacks in the country’s energy sector development, affecting reliability and accessibility of energy.
“With such challenges, there is a need for active engagements with the stakeholders to come up with sustainable solutions,” said Mhone.
During the conference, the European Union (EU) reaffirmed its commitment to supporting the country’s energy goals, stressing the importance of collaboration to enhance energy security and drive socio-economic development.
EU Delegation acting Head of Mission Else Boonstra highlighted the organisation’s dedication to working alongside partners to address key challenges in the energy sector.
She acknowledged the obstacles hindering the development and expansion of energy infrastructure, including regulatory uncertainty and funding constraints.
The conference is being held under the theme ‘Unlocking finance for energy security’.
