DRC-Zambia: towards the realization of the joint project to manufacture electric batteries from local raw materials
As part of the cooperation agreement on the establishment of a value chain on the manufacture of batteries and clean energies in the very next few days, between the Congolese President Félix Antoine TSHISEKEDI TSHILOMBO and his Zambian counterpart Hakande HICHILEMA, the Minister of Finance, Nicolas KAZADI, took an active part in a meeting in LUSAKA in Zambia at the Presidential Palace, on Wednesday March 09, 2022.
For this mission, the Minister of Finance was accompanied by the Special Advisor to the Head of State in charge of Investments as well as some experts from the Ministry of Industry.
This was a major meeting to harmonize views between the Republic of Zambia and the Democratic Republic of Congo, following the DRC-AFRICA Business forum, organized in November 2021 in Kinshasa by the Ministry of Industry. in the presence of several Heads of State and governments, including that of Zambia. As we can guess, this historic moment was an unprecedented opportunity that paved the way for this saving and transforming initiative for the African continent.
Considering that the DRC and Zambia, bordering states, have more than 70% of the world’s cobalt reserves, it is inevitably good that the two states harmonize their development policies and strategies in certain growth sectors, in this case , mining and industry for WIN-WIN cooperation.
Therefore, Zambia and the DRC agree to set up a common governance framework, called the DRC and Zambia Battery Council (DRC-ZAMBIA Battery Council), whose Executive Committee will be composed of two Heads of State. , the Deputy Secretary General of the African Economic Community for the United Nations, as well as the President of Afrexim Bank, as a financial partner. This governance body will have a Technical Committee in charge of monitoring and evaluating the initiative.
Equally, it will also be a question of creating a harmonized legislative and regulatory framework as well as a system of incentives common to the two States, for a business environment conducive to the development of the value chain and the flourishing economic microcosm.
