Connect with us

Uncategorized

Old Mutual pushes Dete solar project as it seeks to light up Zimbabwe

Published

on

BY CRECEY KUYEDZWA

Old Mutual Zimbabwe – a subsidiary of Old Mutual – has poured US$12.4 million into solar projects around that southern African country, which will generate a combined 25 MW upon completion.

Advertisement

Among other projects, OMZim has invested in a 5.4 MW solar farm at Cross Mabale in Dete, Matabeleland North province.

The Zimbabwe economy has been struggling with high levels of inflation which remained above 56% at the last count in July 2021.

The country is currently not energy sufficient and imports at least 300 MW from Eskom South Africa, while other imports are coming from Mozambique’s Cahora Bassa.

Advertisement

OMZim says its investment activities are now focused on activities that will “help the economy recover and grow as well as helping our clients preserve value for their investments”.

In the Old Mutual Anchors Magazine (11th issue, 2021), OMZim said it will continue to recognise and support sectors such as sustainable energy, agriculture, and other green climate projects.

While OMZim’s portfolio has been anchored on insurance and investment in the major cities, it explained that the group’s new strategy is to “diversify away from city buildings and venture into private infrastructure and equity investments, specifically in the energy sector”.

Advertisement

“We have invested US$12.4 billion into solar projects around Zimbabwe that will generate a combined 25 MW upon completion and also contribute in feeding electricity into the national grid,” it said.

The Cross Mabale investment, which is a joint venture between Old Mutual Investment Group and Solgas Energy, was expected to go live on at the end of last month.

“The farm has been under construction since 2019, with Old Mutual investing US$7.3 million on the project, which is made of 16 000 solar panels,” OMZim said.

Advertisement

Another solar project OMZim is invested in is Harava Solar, which is building a 20 MW solar farm in Seke just outside of Harare.

The initial phase of 6 MW is done and the company plans to complete the project by November this year.

The plant will provide power to 45 000 households, according to officials.

Advertisement

OMZim has also funded the installation of solar-powered irrigation equipment to assist water reticulation and small-scale agriculture at 26 schools.

According to CEO Samuel Matsekete, OMZim’s investments in alternative assets continue to track well.

“We closed ahead of the targets that we set at the beginning of the year,” Matsekete told the company’s AGM last week.

Advertisement

The CEO also stated that they sustained investments in infrastructure, projects such as those in green energy or investments in the real estate sector.

“While some of these projects were derailed by Covid-19-induced lockdowns, a few were completed during the period under review. We continued to deploy capital in new projects and in initiatives aimed at making the business more effective and efficient in serving our customers.”

The investments in solar by Old Mutual come as more and more Zimbabwean companies are turning to solar energy for power supplies.

Advertisement

Zimplats, the Zimbabwean unit of Impala Platinum (Implats), plans to build two solar power plants with generation capacity of 185 MW to power its operations. – Fin24

Advertisement
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

In the community

Avoid nightime movement and stoning elephants, communities told

Published

on

BY NOKUTHABA DLAMINI 

Following a recent spate of human-wildlife conflict incidents, Zimbabwe Parks and Wildlife Management Authority spokesperson Tinashe Farawo has urged communities to exercise caution when encountering wild animals.

Farawo emphasized the importance of avoiding confrontations with elephants, particularly when they encroach into community areas. “We would like to urge members of the communities to avoid throwing stones at elephants,” he said. “This action agitates them, leading to attacks on people.”

In addition to avoiding confrontations, Farawo advised community members to minimize movement at night, as this is when wild animals are most active. “We would like to urge communities to avoid moving at night to minimize casualties,” he said.

Farawo’s comments come after a 79-year-old man from Hwange was killed by an elephant yesterday. The incident is still under investigation by rangers. This is the second fatal incident in the area, following the death of another man who was attacked by an elephant while on his way to work in Hwange town several weeks ago.

 

Continue Reading

In the community

Population Services Zimbabwe to offer free family planning services in Nkayi

Published

on

 BY WANDILE TSHUMA 

Population Services Zimbabwe (PSZ) is set to provide free family planning services in Nkayi District from next week

The initiative which will run from 15-18, aims to enhance access to comprehensive reproductive health care and empower individuals and couples to make informed choices regarding family planning.

The outreach will kick off on Monday, September 15, at the Sivalo Rural Health Centre (RHC) and its outreach site. This will be followed by activities at various locations each day:

Tuesday, September 16:
Jabulisa at 9:00 AM
Ngabayide at 2:00 PM
Wednesday, September 17:
Sebhumane at 9:00 AM
Nesigwe RHC at 10:00 AM
Thursday, September 18:
Mateme RHC at 9:00 AM
Sembeule at 10:00 AM

The services offered during this campaign include:

Loop insertion and removal
Implant insertion and removal
Depo Provera injections
Secure and control pills
Emergency contraceptive pills
Counselling on reproductive health issues

 

Continue Reading

Slider

Conservation amid crisis: How VFWT adapted to 2024 drought

Published

on

BY NOKUTHABA DLAMINI 

The Victoria Falls Wildlife Trust (VFWT) has released its 2024 Impact Report, detailing a year marked by unprecedented challenges due to severe drought conditions across Zimbabwe and much of Southern Africa. The report highlights the organization’s strategic adaptations to support local wildlife and communities during one of the most difficult drought years on record.

Unlike previous droughts where water scarcity was the primary concern, this year underscored a more complex reality. VFWT Chairperson Bruno De Leo emphasized that the lack of grazing for both wildlife and livestock emerged as an even greater threat. Animals had to venture farther for food, increasing the potential for human-wildlife conflict and competition for dwindling resources. De Leo noted, “The year 2024 underscored the importance of connectivity for wildlife and the need to maintain corridors that allow movement and relieve pressure on natural resources.”

In response to these challenges, VFWT implemented several proactive measures. Collaborating with the rural communities involved in its Herding 4 Hope project, VFWT facilitated early livestock sales to minimize losses and planned for dry-season grazing in more distant areas to conserve energy among livestock. The organization also focused on regenerating boreholes to ensure that villages without adequate water had access to crucial resources.

Notably, VFWT’s Wildlife Disease & Forensics Laboratory made significant strides, establishing itself as a key player in wildlife forensics. In 2024, the laboratory handled over 280 cases and engaged in crucial research on transboundary animal diseases affecting regional wildlife. The lab successfully validated targeted sequencing for species identification using new technologies, reinforcing its capabilities in addressing wildlife crime. Remarkably, the lab played an integral role in international ivory seizure investigations and developed a genetic panel for black rhinos, demonstrating a strong commitment to combatting poaching and ensuring species protection.

A particularly significant initiative was the launch of a tuberculosis surveillance project for lions within Hwange National Park. Following confirmed deaths from the disease, this project seeks to assess its prevalence among the lion population and understand transmission dynamics. With nine lions set to be sampled in late 2025, the data gathered will contribute to vital conservation knowledge.

The report emphasizes the importance of continued support from donors and stakeholders, enabling VFWT to maintain healthy animal populations and develop sustainable solutions for the future of biodiversity in the region. In a challenging year, the dedication and adaptability of the VFWT team stood out, reinforcing its commitment to conservation and community engagement.

Continue Reading

Trending

Copyright © 2022 VicFallsLive. All rights reserved, powered by Advantage