Tanzanian billionaire Rostam Aziz is set to invest over $500 million in Zambia through his Taifa Group, targeting gas distribution, solar power, and contract mining to help address energy gaps and support industrial growth.
The investment marks Taifa Group’s largest expansion into Southern Africa and aligns with Aziz’s focus on infrastructure and regional development.
Initial efforts will include shipping liquefied petroleum gas (LPG), building storage and distribution networks, and developing up to 500 megawatts of solar capacity to ease power shortages.
Aziz highlighted that the move aims to reduce reliance on diesel and charcoal, improve air quality, and support Zambia’s copper, agriculture, and manufacturing sectors, positioning Taifa Group as a long-term partner in the country’s industrial and economic growth.
Mmmm sounds fishy