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UN approves Zimbabwe’s US$45 mil renewable energy programme

Old Mutual Solar, Renewable Energy United Nations, UN, Zimbabwe

The United Nations (UN) SDG-Fund has approved Zimbabwe’s US$45 Million programme on catalysing investments in Renewable Energy (RE) for the acceleration of the attainment of the Sustainable Development Goals (SDGs) in the country.

The UN SDG-Fund is contributing US$10 Million to the programme whilst the Government of Zimbabwe through the Infrastructure Development Bank of Zimbabwe (IDBZ) and local partners including Old Mutual Investment Group (OMIG), Zimnat Asset Management and CABS are supporting the programme with a total of US$35 Million.

The 4-year programme, which is expected to kick off in April 2022, was jointly developed by UNESCO (Lead agency), UNWOMEN, UNDP and the Government of Zimbabwe.

It aims to leverage private investments in order to support Renewable Energy-based projects for the achievement of the SDGs in Zimbabwe. This programme will innovatively target Sustainable Development Goals 5, 7, 8, 9, 13 and 17, whilst harnessing the cross-cutting nature of these goals to achieve the rest of the SDGs.

The programme will also contribute towards the attainment of a number of key national priorities of the Government of Zimbabwe as spelt out in the National Development Strategy (NDS 1) and the United Nations Sustainable Development Cooperation Framework (UNSDCF 2022-2026), by working towards national goals on economic development, energy access, climate action, women and youth empowerment, and capacity development in RE for productive uses.

The main intervention of the programme, centres on the establishment of an innovative inclusive & gender-responsive Renewable Energy Fund (REF) that aims to leverage private sector and financial markets to finance RE projects that have a return on investment while achieving social impact for the acceleration of SDG achievement in Zimbabwe.

The joint programme will therefore carry out a full-scale demonstration of concept of the REF instruments driving an innovative model of Accelerated Local SDG Achievement, and economic empowerment of communities through the transformational impact of introducing RE technology with new entrepreneurship opportunities, income and job creation, and improved quality of life and the environment. In order to address capacity gaps in pre-investment, investment and post-investment stages, the Partnering UN Organizations through the JP will leverage partnerships with international RE-capacity building organisations and local money markets to increase access to funding by SMEs.

By focusing not just on investing in projects, but also on building technically skilled manpower in STEM, RE and ICT fields, the programme will have a long-term impact towards increasing the uptake of RE in the country.

The active involvement of the United Nations system and Old Mutual Investment Group will provide credibility and a ‘halo effect’ thereby providing a wider stage and audience for the Fund’s activities. The Fund is expected to unlock over USD 30 Million from the Zimbabwean financial markets, and regional and international development focus entities, the bulk of which would otherwise not typically be directed towards RE financing.

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8 thoughts on “UN approves Zimbabwe’s US$45 mil renewable energy programme

  1. Why are you guys not talking about Maxwell Chikumbutso? His new TV story should be talked about here. You guys are not serious. A lot of tech news is happening around the world and you are not talking about it. Hellooo! Space X just helped South Africa to launch their satellite. The first in Africa. Why aren’t you talking about that. You guys are boring nowadays. Arch, this infuriates me.

    1. Who’s Mmike Chikumbutso??? What has he done??? I’ve also a question about this new TV called AzamTV, never saw any post about it here on Techzim

    2. Wait, is that the guy who broke physics by building a device that looks like a faraday cage and converts ambient RF back into kilowatts of power? Did he invent a TV? They have covered him before, but did anything tangible come out of this epoch changing tech? As far as I can recall, that power thing was never demonstrated in a way that left no doubt (which could be done without giving up his secrets).
      SpaceX is certainly up to interesting stuff. That rocket catcher they want to build is bananas! I guess the SA satellite would be interesting too.
      As for more global coverage in general, I wonder what the logistics of that would look like. I mean, it’s easy enough to sift through the Google news, techradars and Reuters of the world and rewrite their stories or make reactions, but how big an editorial staff (and source network) would they need to generate unique coverage of every significant story? Maybe you can help start a ‘free’lance contributor program or keep them up to date through their tips page. That still exists right? It’s been ages since I used it!

    3. That guy is just a con artist. Has anyone at all, anyone, actually been able to test his products or “INVENTIONS”? Besides the so called “Prototypes”, has he actually brought even a single one of his inventions to market. And save that “if he had the funding to scale up manufacturing” excuse, he can’t prove that his technology is real, simple. And what exactly is the practical, actual practical use of a wireless tv, honestly? Watching tv on a 55″ display while I’m walking?

  2. Who’s Mmike Chikumbutso??? What has he done??? I’ve also a question about this new TV called AzamTV, never saw any post about it here on Techzim

  3. With the precedence of using 5 million for a single feasibility study, in no time the money will be gone. 🤣

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