Egypt trip pays as Chakwera secures K27bn for energy investment

The trip to Egypt where the state President has gone to attend the Conference Parties 27 (COP27) World Leaders’ summit has started bearing fruits as Malawi has secured $27 million which is about K27 billion grant for energy investment in the country.

Malawi has been hit by frequent blackout due to shortages of power production, a development that has affected various industries in the country.

Dr Chakwera held discussions with the Chief Executive Officer of the Global Energy Alliance for People and Planet (GEAPP), Simon Hartford who has assured the Malawi leader about the grant.

“I held discussions with Simon Harford, chief executive officer at Global Energy Alliance for People and Planet (GEAPP), an alliance of entrepreneurs, governments, policymakers and financiers in clean energy.

“GEAPP will give Malawi a US$ 27 million grant for the implementation of a grid battery-powered project. We will sign a memorandum of understanding in the coming days,” said Chakwera.

The state President added that the investment is one way of supporting Malawi’s transition towards clean energy as a sustainable remedy for climate-induced impediments on sustainable livelihoods.