Special economic zones as catalysts for sustainable development in Africa [Business Africa]

In this edition of Business Africa, we delve into the captivating realm of Special Economic Zones (SEZs) and their potential to transform Africa’s economic landscape.

Following the groundbreaking announcement during the closing days of COP28, a resounding call echoes for African nations to transition away from developing and exploiting fossil fuels, opting instead for an energy transition. 

Meanwhile, in the Democratic Republic of Congo, Rawbank takes a bold stance in the fight against climate change. Join us as we explore the dynamic intersection of economic innovation, environmental responsibility, and the evolving landscape of Africa’s business arena.

Special Economic Zones: Drivers of a Circular and Sustainable Economy?

In the ever-evolving sphere of economic development, Special Economic Zones (SEZs) have become pivotal instruments, playing a crucial role in propelling economic growth and championing the principles of free trade across the continent. 

These zones are emerging as vital catalysts for economic development and the promotion of free trade in Africa. The question that arises is: How do these zones become key drivers of the continent’s circular and sustainable economy?

Moubarack Lo, General Director of the Bureau de Prospective Economique of Sénégal, and Mayor of the Commune of Niomre joined us to answer this question.

COP28 Leaders Call for Energy Transition in Africa

With the conclusion of the COP28 summit, a historic milestone marked the proceedings—a groundbreaking climate agreement uniting over 100 nations in a commitment to move away from fossil fuels. However, beneath the surface of this global consensus lies a complex web of challenges, particularly poignant within the African context.

DRC: Foremost Bank Dedicated to Combating Climate Change

Rawbank, the primary financial institution in the Democratic Republic of Congo, showcases an increased dedication to combating climate change. The bank has embraced Mastercard’s carbon calculator and entered into a partnership with Vitol to fund renewable energy projects.