A group of businesses from the United Arab Emirates has expressed interest in investing in Zambia’s trade in carbon credits as well as other economic sectors.
Mining, agriculture, carbon education, health, and energy are the companies’ main areas of interest.
When AHMED MAKTOUM, a member of the United Arab Emirates royal family, met President HAKAINDE HICHILEMA in State House, he revealed this information.
Because Zambia is endowed with trees, according to Sheikh Maktoum, the UAE would like to work with them on carbon credit projects.
He mentioned the agriculture and energy sectors as examples of more areas where Zambia and the UAE may collaborate.
Following his most recent encounter with President HICHILEMA while the latter was in Abu Dhabi, Sheikh Maktoum stated he will travel to Zambia.
Additionally, President HICHILEMA has urged Ministries to move quickly with carbon credit projects because they will advance the industry in Zambia and aid in the country’s economic recovery.
The relationship in carbon credit, according to President HICHILEMA, may open up opportunities for both nations.
He has expressed hope that carbon credit initiatives will provide Zambians with alternate livelihoods to relying solely on the country’s forests.
The UAE has the knowledge and resources to carry out the project, according to Green Economy Minister COLLINS NJOVU, despite the fact that Zambia is a newcomer to the Carbon Credit Trade.
According to Mr. NJOVU, Blue Carbon, a business from the UAE, visited his ministry to discuss a number of matters pertaining to the trade in carbon credits as they strive to formally establish the cooperation before COP28.