DRC Requires a Minimum of $30 Billion for Electric Battery Industry Development
The Arise firm has unveiled the results of its pre-feasibility study on the development of the electric battery industry in the Democratic Republic of Congo (DRC) on Thursday, September 21, 2023, in New York, United States. The report indicates that the investment required for this ambitious project is approximately $30 billion.
Although preliminary, the study reaffirms the feasibility of manufacturing battery precursors within the DRC.
Julien Paluku Kahongya, the Congolese Minister of Industry, hailed the significance of this study, emphasizing its potential to attract partners interested in investing in Africa, particularly the DRC.
He highlighted that this endeavor extends beyond battery production, encompassing investments in energy, infrastructure, and transportation.
The study’s projections suggest that this massive project could generate nearly $7 trillion by 2040. While African economies currently capture only 3% of the raw material market value, the study envisions raising this figure to between 30% and 40% through local processing.
Furthermore, the Arise firm predicts that establishing a factory for battery precursor production in the DRC would create approximately 40,000 direct jobs and over 160,000 indirect jobs.
The report also underscores the need for more than 380 mines to meet the demands of this expansive mining initiative.
Launched by the Democratic Republic of Congo two years ago and subsequently joined by Zambia, the electric battery precursor factory project aims to position Africa as a driving force in combating climate change while fostering economic emergence and shared prosperity with other continents.
