Business

Zambia smells dollars from battery electric vehicles

Modern electric car with battery, x-ray vehicle chassis, 3D rendering

ANGELA CHISHIMBA,Lusaka

ZAMBIA and other African countries are in a good position to profit from the global movement towards decarbonisation because it is home to key battery minerals such as cobalt, copper, lithium and manganese.
Economic Commission for Africa (ECA) executive secretary Vera Songwe, however, is quick to state that how much transformation will happen to African countries involved in producing and selling these raw materials will only depend on how fast they move up the value chain. Dr Songwe was speaking ahead of the Democratic Republic of Congo (DRC) – Africa Business Forum whose theme is “Fostering the development of a battery, electric vehicle and renewable energy value chain and market in Africa.” The objective of the forum, which is scheduled to take place from November 24-25 in Kinshasa, is to bring together Africa’s private sector, development partners, institutional investors and foreign private sector, among others, to dialogue, identify opportunities and facilitate investments to increase Africa’s share of the battery, electric vehicles and renewable energy value chain. “The DRC-Africa Business Forum is a forum where we will discuss this possibility of moving DRC and the rest of the African continent, taking advantage of the African Continental Free Trade Area Agreement to see how we can build a global Africa value chain in CLICK TO READ MORE


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