AFRICA ( commonwealth Union ) _ With Afreximbank and the United Nations Economic Commission for Africa (UNECA), the governments of Zambia and the Democratic Republic of the Congo (DRC) have signed a financing agreement for the pre-feasibility study for the creation of special economic zones devoted to the Electric Vehicle Battery (EVB) Value Chain.
Speaking at the signing ceremony in Kinshasa, the Democratic Republic of the Congo, Minister of Commerce, Trade, and Industry Chipoka Mulenga said the agreement shows the two nations’ commitment to the project, led by their respective leaders, Zambian President Hakainde Hichilema and Democratic Republic of the Congo President Felix Tshisekedi.
The agreement, which was agreed upon on April 29, 2022 in Lusaka, Zambia, according to Mr. Mulenga, who signed on behalf of Zambia, also directs the implementation of the initiative and marks a significant turning point in the cooperation between Zambia and the DRC on the establishment of a value chain in the electric battery and clean energy sector.
The minister said the agreement was born out of the need for the two countries to take control of their mineral resources by enhancing local value addition to create industries, businesses, and jobs for their people in collaboration with development partners. This is according to a statement by Musanda Kangwa, public relations officer for the Ministry of Commerce, Trade, and Industry.
In order to support the aspirations of Zambia and the DRC during this voyage, partners like Afreximbank and UNECA were with the two countries, according to Mr. Mulenga.
In addition, Julien Paluku, the Democratic Republic of the Congo’s minister of industry, who signed on behalf of his nation, reaffirmed the commitment of both nations to seeing the project through to completion.
Sama Lukonde, the prime minister of the Democratic Republic of the Congo, presided over the ceremony. Other dignitaries present included the minister of labor and social security, Brenda Tambatamba, the permanent secretary of the ministry of commerce, trade, and industry, Mr. John Mulongoti, and His Excellency, Paulu Kosita, the ambassador of Zambia to the DRC.
