About Zesco
ZESCO (Zambia Electricity Supply Corporation) Limited, Zambia’s state-owned electricity utility, is a vertically integrated company responsible for electricity generation, transmission, distribution, and supply across the country. It plays a pivotal role in Zambia’s energy infrastructure and regional power trade.
Company Value
Asset Valuation:
As of the end of the 2017 financial year, ZESCO’s revalued assets were estimated at US$4 billion . However, a 2020 report suggested that ZESCO is an $11 billion company, positioning it among the largest utility firms in Africa . So currently the utility can be valued at over $13bn almost half of Zambia’s economy!
Revenue:
In 2017, ZESCO reported revenues of approximately US$409 million . More recent estimates indicate annual revenues around US$479.6 million.
Ownership:
ZESCO is wholly owned by the Zambian government through the Industrial Development Corporation – IDC.
Major Assets and Infrastructure
1. Power Generation
ZESCO operates a diverse portfolio of power generation assets, primarily hydroelectric, with some thermal and renewable sources:
Hydroelectric Power Stations:
| Name of Power Station | Amount of Power Being Generated |
| Kafue Gorge Upper | 990 MW |
| Kafue Gorge Lower | 750 MW |
| Kariba North Bank | 720 MW |
| Kariba North Bank Extension | 360 MW |
| Victoria Falls | 108 MW |
| Itezhi-Tezhi | 120 MW |
Renewable Energy Projects:
| Name of Power Station | Amount of Power Being Generated |
| Ngonye Solar Power Station | 60 MW |
| Bangweulu Solar Power Station | 54 MW |
| Choma Solar Power Station | 60 MW with a 20 MWh battery energy storage system (expected to be commissioned in September 2025) |
These assets contribute to a combined installed generation capacity of over 2,900 MW of power.
2. Transmission and Distribution Network
Transmission Lines:
ZESCO owns and operates over 11,100 kilometers of high-voltage transmission lines, facilitating power delivery across Zambia and enabling exports to neighboring countries through the Southern African Power Pool.
Distribution Network:
The company’s distribution infrastructure spans over 56,000 kilometers, ensuring electricity reaches various regions within the country.
3. Strategic Investments and Partnerships
Kafue Gorge Lower Hydroelectric Project:
A significant investment funded through a Public-Private Partnership (PPP) model, with the Zambian government contributing 15% and foreign financial institutions, including the Exim Bank of China and the Industrial and Commercial Bank of China, providing the remaining 85%.
Solar Power Contracts:
In 2020, ZESCO signed contracts worth $548 million with Power China to develop three solar power plants, adding a combined capacity of 600 MW to the national grid.
ZESCO Limited stands as a cornerstone of Zambia’s energy sector, with substantial assets in power generation, transmission, and distribution. Its diversified energy mix, strategic investments, and regional partnerships underscore its critical role in meeting the country’s electricity demands and supporting economic growth.