National Pension Scheme Authority invests in Maamba Collieries Ltd

The National Pension Scheme Authority (NAPSA) has said it will invest up to $200 million in the form of debt to help support the phase two expansion project of Maamba Collieries Ltd.

Speaking during a press briefing on 16 July, the NAPSA Chairperson, Shipango Muteto said the project would be a promising diversification in the portfolio of investments in the energy sector.

The Maamba Collieries expansion project is expected to create 1,200 jobs during the constructions, and 400 jobs throughout its operation.

This investment is NAPSA’s second major undertaking this year, after its investment in 750 megawatts of the Kafue Gorge project.

The Director General of NAPSA, Muyangwa Muyangwa also revealed that the authority is currently looking at renewable energy proposals in solar power to help relieve the power deficit Zambia is facing. He disclosed that 13 out of 44 proposals have been flagged for implementation gradually throughout the year.