Africa set for enhanced growth through green energy

By ZBC Reporter

The global transition towards green energy has presented Africa with significant growth opportunities as the chief supplier of renewable energy related raw materials.

In pursuit of expanding and lucrative electric vehicle value chains, United Nations Economic Commission for Africa among other development partners will converge in DRC next week for an all-inclusive dialogue on how to increase the continent’s share on the battery and electric vehicle market.

Africa in general and Zimbabwe in particular boasts of unlimited natural resources and strategic minerals which form the components of lithium-ion batteries being sought across the world.

It is in this context that development economists are warming up to the strengthening of renewable energy value chains that will enable African countries to capture a larger portion as explained by Investment Analyst Mr Kudakwashe Mugova.

“The fast movement of the world from fossil powered engines to environmentally friendly electric automotive engines will see a number of African countries on the verge of growing their economies meaningfully,” he said.

Speaking on the same subject, Development Economist Mr Titus Mukove welcomed the summit as a positive development for Africa.

“The summit is a welcome development for Africa as it is the chief supplier of critical raw materials and therefore the movement towards where the world is heading is commendable that comes with immense economic benefits,” noted Mukove.

Economic observers are of the view that the net zero ambitions by 2050 makes the 2021 Africa Business Summit a critical stepping stone towards sustainable economic development.

The post Africa set for enhanced growth through green energy appeared first on ZBC NEWS.

Leave a Reply

%d bloggers like this: