South African President Cyril Ramaphosa has proposed a partnership with Nigeria to develop lithium resources, essential for electric vehicle batteries, during the Nigeria-South Africa Business Roundtable in Cape Town. He emphasized the potential for collaboration in other sectors and highlighted the strategic economic partnership between the two countries as a pathway to reduce oil dependency and foster industrial growth.
South African President Cyril Ramaphosa expressed the nation’s commitment to collaborate with Nigeria in mining critical minerals, particularly lithium, to support the electric vehicle (EV) industry. At the Nigeria-South Africa Business Roundtable held in Cape Town, Ramaphosa proposed utilizing Nigeria’s extensive lithium reserves to bolster industrialization in the EV sector and encouraged the private sector as well as development finance institutions to participate in these initiatives. He highlighted the substantial opportunities for collaboration between the two nations, particularly in the pharmaceutical and clean energy manufacturing sectors.
The increasing global shift towards renewable energy and electric vehicles has intensified the focus on lithium as a critical resource. South Africa and Nigeria are two prominent African economies, and their partnership could significantly impact the green energy landscape. With Nigeria holding vast lithium reserves and South Africa pushing forward with its Just Transition Framework for renewable energy, there is considerable potential for these countries to lead in the EV market. The establishment of the Joint Ministerial Advisory Council aims to enhance trade and investment relations between them, marking an important step towards mutual economic growth.
In conclusion, the collaboration between South Africa and Nigeria to develop lithium resources represents a strategic effort to advance the electric vehicle sector on the continent. By leveraging each other’s strengths, both nations aim to create a more diversified economic landscape, less dependent on oil and gas while enhancing their positions within the global markets. The proactive measures discussed at the roundtable signify a promising future for African cooperation in clean energy.
Original Source: www.arise.tv
