The signing of the Framework Agreement relating to the creation of Special Economic Zones (SEZ) dedicated to the production of precursors for batteries, batteries and electric vehicles between the Democratic Republic of Congo, Zambia, the United Nations Economic Commission for Africa and Afreximbank is scheduled for today, March 27, 2023 in Kinshasa.
This signature will be followed by the launch of a pre-feasibility study. Which study will aim to design an implementation plan and an operational model for the creation and operation of the cross-border SEZ.
It will also aim to identify the main challenges to be met in order to facilitate the creation and operation of the cross-border SEZ. The study will also make it possible to develop a financing plan and fundraising strategies, but also to design a strategy to promote investments dedicated to the SEZ.
“The electric battery market is a big market, if we manage to capture only 10% of this market and inject into the Congolese economy, it will be a boom. When you look at the GDP of all of Africa it is less than 2 trillion or at most 2 trillion. This is less than the GDP of Japan which is 4 trillion, Japan has a GDP higher than all the African countries, which is unacceptable. It is projects like this that will help Africa if we create an African value chain that takes all the producing countries of these components that go into manufacturing,” explained the Minister of Industry, Julien Paluku Kahongya. The DRC is engaged in a long campaign to mobilize partners and will thus inaugurate the process of implementing the ambitious Batteries and Electric Vehicles (BVE) value chain project.”
As a reminder, for the 2023-2024 financial year, the country intends to install the first manufacturing plant for electric battery precursors. This is the priority of the CCB Board of Directors and Management Committee.
