The Africa Import and Export Bank and the United Nations Economic Commission for Africa-UNECA have contributed their experience to the implementation of the vehicle battery project between Zambia and the Democratic Republic of the Congo.
The two global institutions would be crucial in the project’s feasibility assessments, according to CHIPOKA MULENGA, minister of commerce, trade, and industry.
In accordance with the agreement, two production facilities would be built in Zambia, according to Mr. MULENGA.
He claims that Ndola has already been identified as the location for the first plant.
Ndola, according to Mr. MULENGA, is the appropriate location due to the availability of minerals and its proximity to the DRC’s sizable market.
In order to support the development of the value chain in the clean energy sector and for electric batteries, Zambia and the DRC inked a cooperation agreement in April of last year.
The agreement would improve the battery manufacturing value chain, which is essential to the economies of Zambia and the DRC.