“Search for energy will require investments of billions of USD” – António Branco

Antonio Branco

(2015-05-26) The construction of energy transmission and distribution systems will require, over the next five years, investment of between 1.5 to 2 billion USD, in order to support the demands of consumption growth.

The Chairman of the Board of Directors of TECNEL, António Branco, says that the economic growth that Mozambique is experiencing will require substantial investment in the power distribution network in the coming years, against a backdrop of financial and technical failure of the institutions.

Considering this scenario, the former Minister of Industry and Energy of Mozambique warns that this situation will require decisions and immediate intervention in order to better position the country in the search for answers to the growing energy demand, both internal and external.

Branco was talking on a panel discussing “Managing the various energy sources, to ensure inclusive and sustainable growth in Mozambique” in the MOZEFO Fórum. He pointed out that Mozambique has registered an average annual growth in gross domestic product (GDP) in recent years from 7% to 8%. These growth rates will have to be associated in the future with higher levels of poverty reduction and accelerated growth of employment and self-employment, which implies much more inclusion in economic and social development programmes. Among the key factors to achieving these goals, according to António Branco, are “the need to provide electricity in a stable, sustained way, with the quality which is essential to the viable functioning of the economy and society as a whole.”

Source: O país
Photo: O País / António Branco

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