Zambiaʼs energy sector is at a pivotal moment. Demand is rising with population growth, urbanisation and industrial expansion, while government efforts to attract private investment and increase renewable generation are reshaping the sector. However, the system remains vulnerable to hydropower variability, supply insecurity and persistent information gaps that complicate planning, raise financing costs and obscure fiscal risks. Improving transparency is therefore essential for better project selection, stronger oversight and more credible investment.
This study assesses how transparency and performance can be strengthened across the energy investment lifecycle, from project identification and planning through contracting, financing and operations. Using a risk‑based approach, it identifies where integrity, performance and fiscal risks emerge and which disclosures are most important for addressing them. The analysis draws on desk research, stakeholder consultations and a validation workshop, and is aligned with CoST, the Infrastructure Data Standard (IDS) and the Open Contracting for Infrastructure Data Standard (OC4IDS).
The findings show that the most significant risks arise upstream, particularly during planning and financing. Limited disclosure of planning assumptions, least‑cost analysis, demand forecasts and project rationale weakens scrutiny and increases the likelihood of decisions that later prove costly or
unsustainable. Contracting and financing arrangements also remain opaque, despite their direct implications for consumer costs and public financial exposure. Operational data, such as generation availability, outages, losses and cost recovery, is produced but rarely published in a structured or timely way, limiting accountability and learning.
A key contribution of the study is the identification of 12 priority energy‑specific transparency datapoints that address gaps not captured by generic infrastructure standards, including hydrological risk, commercial arrangements and contingent liabilities. The report recommends a sequenced approach: short‑term publication of existing documents and basic indicators using CoST templates, followed by the development of a more comprehensive,OC4IDS‑aligned framework tailored to the energy sector. Strengthening disclosure will not resolve all sector challenges, but it is a practical foundation for reducing fiscal risks, improving investment discipline and enhancing overall sector performance.