Zimbabwe Has $9 Billion Plan to Join African Electricity Drive

Zimbabwe laid out plans to raise more than $9 billion to boost energy access at a conference in London on Wednesday, an event organized by multilateral lenders to promote a flagship African electrification program to private investors.

The plan, which falls under the World Bank and African Development Bank’s Mission 300 program, envisages a more than doubling of the country’s power production from hydro, wind, solar and biomass plants, a copy of the presentation sent to Bloomberg showed. Zimbabwe has been hit by regular power outages in recent years, often lasting most of the day, due to a lack of generation capacity.