Zambia and the Democratic Republic of the Congo DRC have signed a memorandum of understanding MoU which will result in the two countries actualising the manufacturing of electric car batteries.
The signing ceremony comes after the two countries earlier this year signed a cooperation agreement to facilitate the development of the value chain in the electric battery and clean Energy sector.
In this regard, the United States of America USA government has pledged commitment to source for partners who can financially support the project to be undertaken by the two countries.
ZANIS reports that the signing ceremony was witnessed by President Hakainde Hichilema with his Congolese counterpart, Felix Tshisekedi on the sidelines of the US Africa Leaders’ Summit which is under way in Washington DC.
Minister of Foreign Affairs and International Cooperation Stanley Kakubo signed on behalf Zambia, whilst DRC Foreign Affairs Minister, Christopher Lutundula signed on behalf of the DRC as US Secretary of State, Anthony Blinken witnessed together with the two Presidents.
And Mr Blinken commended the two countries for embarking on the project and expressed happiness that his government was able to witness the signing of the MoU.
Mr Blinken pointed out that DRC produces more than 70% of the world’s cobalt and that Zambia was the world’s sixth-largest copper producer, second-largest cobalt producer in Africa.
He said the global demand for critical minerals is going to skyrocket over the next decades adding that the plan to develop an electric battery supply chain opens the door for U.S. and like-minded investment to keep more value added in Africa.