THE Ministry of Energy has revealed an increase of K529 million in license fees in 2024, above its estimated target of K342 million in annual returns. 

The Energy Regulation Board (ERB) has disclosed that the achievement demonstrates the board’s effort in promoting investment and growth in the energy sector.

ZANIS reports that, speaking at the end-of-year Press briefing in Lusaka today, ERB Director General, Elijah Sichone said the licensing revenue is a key indicator of the sector’s performance. 

Mr Sichone stated that the board has been working tirelessly to streamline its licensing processes and reduce regulatory barriers, making it easier for investors to operate in the energy sector.

He further outlined the Board’s plans for the coming year, noting that they will continue working toward promoting competition and investment in the sector and pledges to improve its operations through resilient system that are tailored to be responsive to the changing needs of the sector.

“We will continue ensuring that the energy sector is regulated fairly and transparently, and consumers have access to safe and reliable services,” Mr Sichone said.