By Chantelle Muzanenhamo
Energy and Power Development Minister July Moyo has called on the United States government to release its private sector to facilitate direct investment in Zimbabwe’s energy landscape.
Moyo made the remarks during the high-level Powering Africa Summit held in Washington on Friday, as the US signals a pivot in its energy policy.
The summit marked a notable shift away from the US’s long-standing opposition to fossil fuels, indicating a willingness to engage with African nations on coal production.
US Secretary of Energy Chris Wright acknowledged that Western countries, including the US, have historically discouraged African nations from developing their coal resources, despite coal’s vital role in global electricity generation and economic growth.
Moyo emphasized Zimbabwe’s readiness to partner with the US.
“Our plea, again to the United States as Zimbabwe, release your private sector so that they can invest directly into Zimbabwe, and we have created an environment where they will earn money because their investment will be guaranteed,” he stated.
For more than 20 years, stringent policies have prevented US companies from conducting business with Zimbabwe, a consequence of strained relations following land reform measures in Zimbabwe that involved the violent seizure of land from white farmers.
Zimbabwe has maintained that this land redistribution was essential for correcting historical imbalances rooted in colonialism.
At the summit, Moyo highlighted Zimbabwe’s abundant coal resources and coalbed methane, stating their potential benefits not only for power generation but also for the agricultural sector.
“Power generation could be one aspect. We are an agricultural country, we want our fertilisers, so any investment in that coalbed methane gas, we could end up doing our fertilisers, which we are importing right now, and as a country that believes very strongly in agriculture, that would be a good investment,” He noted.
Zimbabwe has abundant coal reserves which could benefit the country if more investors come on board to exploit the natural resources.