Becoming Obsolete?

Will Zimbabwe be left in the dark after China pulls financing from its coal mines?

By Michelle Chifamba

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Posted on November 9, 2021 18:45

Cooling towers are seen at a coal fired power station in Hwange — Cooling towers at a coal- fired power station in Hwange, Zimbabwe (REUTERS/Philimon Bulawayo)

Plans by President Emmerson Mnangagwa’s administration, to restore Zimbabwe as one of the fastest developing economies in Africa, have been hit hard by China’s announcement that it will stop funding coal mining projects outside its borders – a precautionary measure to limit carbon emissions, as the world grapples with the crisis of climate change and global warming.

Delivering his key message to world leaders at COP26, UN Secretary General Antonio Guterres said: “The six years since the Paris Climate Agreement have been the hottest years on record. Our addiction to fossil fuel is pushing humanity to the brink.”

Ahead of the climate change summit, China had already announced its plans to stop financing fossil fuel projects in order to reduce carbon emissions. However, for countries like Zimbabwe, such a decision has put a damper on plans for improving its electricity supply.

Through the National Development Strategy (NDS1), the Zimbabwean government has been looking to turn the country into an energy exporter by 2023. However, following China’s decision, the country is now looking for immediate solutions to restore its power projects and improve electricity generation capacity.

China’s investment U-turn

Soon after China’s announcement, which was

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