Zambia Electrometer, a joint venture – JV of El Sewedy electrometer of Egypt and Zesco limited of Zambia has so far invested over US$10 million in its investments in Zambia. The JV which was established in 2008 just celebrated its 10th anniversary this June is 60% owned by El Sewedy and 40% by Zambia’s energy giant, Zesco.
Speaking to the Zambian Business Times – ZBT during the 2018 54th Zambia international Trade Fair under the theme “Private sector, key to industrialization”, Zambia Electrometer Sales and Marketing manager Joo Chunga disclosed that the total initial investment at the start of the company in Zambia was about US$5 million. This investment was later increased through capital injection by share holders of a further US$5 million, making a total of about US$10 million.
Chunga stated that “currently, Zambia Electrometer is manufacturing about 20 million energy saving bulbs and also exporting its electricity meters to mostly COMESA and the SADC member states. The key export destination countries in the region include Malawi, Botswana and Zimbabwe not forgetting Gambia which is in west Africa”.
Chunga further said that due to the growing poultry industry in Zambia, Zambia Electrometer came up with a new invention of warming light energy serving bulbs which serves over 80% energy. The company has now introduced the smart meter that comes with a sim-card and makes it easy for one to recharge from anywhere away from home, making it easy for Zesco customers to re-charge electricity units from wherever one is.
He said with the solutions of providing better meter reading, Zambia Electrometer today can boldly boast of its achievement because it believes it has managed to contribute to the elimination of the issues of unpaid bills and the issues around customers being over-charged by manual billing system. Consumers are only able to pay for what they use.
The energy sector has seen quite significance growth in the past years as a result of demand for energy. There is more demand than the supply. As a country, Zambia is working at finding ways of balancing up the demand and supply equation. There is also a lot of investment in renewable energy, energy serving efficiency as well as environmental protection. So, even though the sector is still in its infancy, its growing and the prospects are quite high, Chunga told ZBT
Furthermore, Chunga said Zambia Electrometer can proudly boast of warm relations with National Electricity utility Zesco and its key stakeholders. We have managed to provide a solution to the energy users in homes and to the electricity utility by eliminating the element of manual paying of bills. “Issues like unpaid bills and over charged bills are of the past because of the solution that we have provided”.
“Our solution is through prepaid metering which consumers are only paying for what they use and the utilities are collecting money up front which makes their planning and investments into their different projects get much more enabled”, Chunga said. He thanked Zambia Electrometer customers and clients for their support through out the years and advised them to look forward to the many innovative products for as long as they keep supporting them.