UNECA Advocates for African Involvement in Global EV and Battery Market

ADDIS ABABA — The United Nations Economic Commission for Africa (UNECA) has emphasized the potential benefits for African nations from the burgeoning global market for batteries and electric vehicles (EVs). This statement was made during a technical review meeting focused on a new cross-border special economic zone to be established between the Democratic Republic of the Congo (DRC) and Zambia.

According to Ethiopian News Agency, Director of UNECA’s Sub-Regional Office for Southern Africa, the zone will leverage the region’s mineral resources to attract investment and develop the local EV and battery industries. Kamwendo highlighted that this initiative could spur significant economic transformation by fostering industrial clusters and bridging technological gaps in the sector. She outlined the projections that show the EV market could potentially expand to a value of US$8.8 trillion by 2025 and further to US$46 trillion by 2050, driven by increased demand for electric vehicles and the need for batteries in various consumer electronics and renewable energy storage.