Industrial Development Corporation (IDC) CEO Mr. Cornwell Muleya says Zambia can attract more investment into power projects if investors are confident they will have a return on their investments.
Mr. Muleya was speaking on a panel entitled “Recognising FDI Momentum: Showcasing Zambia and Zimbabwe’s Success in Building Investor-Friendly Power Markets” at the 3rd Zimbabwe-Zambia Energy Projects Summit (ZIM-ZAM) 2026, taking place in Livingstone from 3 to 5 November.
He said IDC has supported recent power projects through ZESCO and ZCCM-IH. These include the Chisamba solar project, which added 100 MW in 2025 and another 100 MW in July 2026. Another is the 136 MW Itimpi II plant, opened in April 2026 with help from a US$10 million green bond investment by ZCCM-IH. IDC is also working with Solar Century Africa Limited on the 67 MWp Fig Tree/Chisamba Solar project, which aims to secure its funding by February 2027.
Mr. Muleya noted that many power projects depend on foreign lenders and dollar loans. He said for Zambian banks and pension funds to lend more, power buyers must pay on time and contracts must be enforced, adding that local lenders could also join together to share the risk.
He said IDC’s role is to prepare projects that are ready for investment and to bring local investors in alongside international lenders.
To attract more foreign money, he proposed a special loan fund, shared with development lenders, that would be repaid only after the main lenders. This would make projects safer for those lenders, though it would not remove all risk
