• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Zimbabwe needs $4.4 billion to tackle energy deficit, World Bank says

2 years ago
in Business, Energy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
39
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Nigeria’s 1.6 Million Container Trade Far Less Than it’s Ports Potential – Logistics Expert

Inside Details of Presco’s $172m Acquisition of SOP, Ghana Oil Palm Firm

Africa’s Richest Economy’s Currency Hits Nine-Month High as Fed’s Dovish Signal Weakens Dollar

Zimbabwe needs $4.4 billion to tackle energy deficit, World Bank says

Zimbabwe needs to spend $4.4 billion on expanding access to electricity if it is to meet its goal of achieving upper middle-income status by 2030, according to the World Bank.

Power supply shortages are costing the southern African nation an estimated 6.1% of of its gross domestic product annually, the Washington-based lender said in its latest Zimbabwe Economic Report, released Wednesday. While an additional 600 megawatts of generation capacity was brought on line this year from the country’s coal-fired plants, frequent breakdowns at its other units led to blackouts that lasted an average of 12 hours a day.

Energy constraints translate “into lower economic growth and lower household incomes,” and are considered the “single biggest brake on the expansion of mining and mineral processing,” the bank said. It envisions the government financing 85% of the required expansion in electricity production, and consumers and the private sector funding 11% and 4% respectively.

Zimbabwe has installed power generation capacity of 2,100 megawatts, but its output is significantly lower than that. Electricity demand is set to grow to 5,177 megawatts by 2030, from 1,950 megawatts, the World Bank’s projections show.

The fastest and cheapest way to produce more power from 2024 to 2026 would be through solar plants, it said. “Subsequently, generation expansion efforts would comprise gas and hydropower power plants, in addition to more solar.”

Zimbabwe experienced its worst-ever outages last year, with blackouts imposed for as long as 19 hours each day, after a drop in water levels in the Kariba Dam curbed production from the country’s main hydropower plant.

Other highlights:

  • The economy is expected to grow 3.5% in 2024, down from 4.5% this year and 6.5% in 2022.
  • “Shocks from the war in Ukraine, supply chain disruptions, economic volatility, and power shortages have kept Zimbabwe’s economic activity below its potential for both 2022 and 2023.”
  • The expansion in gross domestic product since the start of last year, along with good harvests, helped bring down levels of poverty and food insecurity, although rates remain high.
  • “Zimbabwe’s economic outlook appears moderate, reflecting continued global headwinds, structural bottlenecks, weather-related shocks, and price and exchange-rate volatility.”
  • “Zimbabwe remains in debt distress and while borrowing is limited, public debt has continued to increase,” driven by external arrears and legacy debt.
Source: bloomberg
Via: norvanreports
Tags: energy deficitWorld BankWorld Bank saysZimbabweZimbabwe needs $4.4 billion to tackle energy deficit
No Result
View All Result

Highlights

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals

Moving Gold, Moving Economies: The Rise of Migrant Women in Zimbabwe’s Mining Sector

Senegal and Mercedes-Benz Partner to Build Trucks

INTERPOL Recovers Over $90 Million From African Crime Syndicates

Djokovic and Gauff Gear Up for US Open with Strategic Focus

CHAN: Morocco and Madagascar Advance to Semi-Finals, Ending Kenya and Tanzania’s Dreams

Trending

Features

Nigeria’s 1.6 Million Container Trade Far Less Than it’s Ports Potential – Logistics Expert

August 23, 2025

Nigeria’s 1.6 Million Container Trade Far Less Than it’s Ports Potential – Logistics Expert Nigeria’s ports handle...

Inside Details of Presco’s $172m Acquisition of SOP, Ghana Oil Palm Firm

August 23, 2025

Africa’s Richest Economy’s Currency Hits Nine-Month High as Fed’s Dovish Signal Weakens Dollar

August 23, 2025

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals

August 23, 2025

Moving Gold, Moving Economies: The Rise of Migrant Women in Zimbabwe’s Mining Sector

August 23, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.