Lusaka lithium battery exchange cabinet cooperation

Can Zambia and Congo make electric car batteries?

Zambia and the Democratic Republic of Congo (DRC) have signed cooperating agreements to start manufacturing electric car batteries. The agreement includes the clean energy sector and will explore minerals rich in both countries which are key raw materials in the manufacturing of electric car batteries.

Are electric car batteries a key milestone for Poverty Alleviation in Zambia?

Speaking after the signing ceremony, President Hakainde Hichilema said the signing of cooperation agreements between Zambia and the DRC to start manufacturing electric car batteries is key milestone towards poverty alleviation in Zambia and DRC.

What is DRC-Zambia Battery Council?

Mr Mulenga and Mr Kahongya in Zambia and DRC joint communique resolved that the two countries agreed to set up DRC-Zambia Battery Council to oversee the implementation of the cooperating agreement for the electric car battery value chain for the benefit of the two countries.

What is a cooperation agreement between Zambia and DRC?

The Cooperation Agreement is expected to provide a framework for bilateral cooperation on the initiative to develop the battery value chain as well as strengthen collaboration between Zambia and DRC. Once actualised, the combined strategy will create jobs for Congolese and Zambians and boost economies of the two countries.

Is Zambia's cooperation agreement with the DRC key to poverty alleviation?

President Hakainde Hichilema stated that the cooperation agreements between Zambia and the DRC to start manufacturing electric car batteries are important for poverty alleviation on the continent. According to President Hichilema, the agreement has removed the shame from Africa, which has been known as an exporter of raw materials.

Will Zambia's import agreement increase foreign exchange inflow?

Bank of Zambia Governor, Denny Kalyalya said Zambia has depended on imports for a long time and that the agreement will increase foreign exchange inflow in the long run. Dr Kalyalya said the Central bank stands ready to ensure that financial institutions help provide resources to make the project successful.