Jacob Zuma in Zimbabwe for Carbon Credits Market Forum

Former South Africa leader, President Jacob Zuma is in Victoria Falls for the inaugural African Voluntary Carbon Credits Market Forum.

He is expected to address delegates representing Belarus Africa Foreign Trade Association.

Minister of Environment Climate, Tourism and Hospitality Industry Nqobizitha Mangaliso Ndlovu is the guest speaker.

Malawi minister of Environment, Dr Michael Usi is in attendance.

The conference is a brainchild of Africa Voluntary Carbon Credits Market (AVCCM), a local company, is running under the theme ‘Accelerating Africa into Climate Economy.”

It is a private sector-led pragmatic, proactive and responsive multi-sectoral and inclusive forum that seeks to facilitate a robust, holistic and inclusive people-centric approach to the climate economy leading to the achievement of Zimbabwe’s National Development Strategy 1, (NDS1) goals, Zimbabwe Vision 2030, Sustainable Development Goals (SDGs)

That will set the tone for Africa Agenda 2063.

The Government recently came up with a carbon credit framework that will see it collecting 50 percent of revenue from the sale of climate mitigation securities.

Incomes from the carbon credit will be deposited into the National Climate Fund and channelled towards funding of climate-friendly projects.

Revenue to local investors has been capped at 30 percent, while foreign investors will be entitled to at least 2 percent.

The Government nullified all offset programmes and gave producers of the securities two months to comply with new rules, including handing over half of their revenue.

The global market for carbon offsets is worth roughly US$2 billion and is projected to grow to as much as US$1 trillion in 15 years, according to some estimates.

The forum ends today


Leave a Reply

Your email address will not be published. Required fields are marked *

Minister of Industry and Commerce Dr Sithembiso Nyoni (second from left) shares insights with Secretary for Industry and Commerce Dr Mavis Sibanda (centre) and National Foods chief executive officer Michael Lashbrook (right) during a tour of the manufacturing company on Wednesday.

NatFoods adequately stocked, but worried about El Niño

National Foods said it has enough raw materials including maize, soya bean, wheat, and traditional grains for the next six months, but expressed concerns about the El Niñoweather pattern which could negatively impact the 2023–24 agriculture season. NatFoods is one of Zimbabwe’s largest food manufacturers and produces a broad range of food commodities including maize […]

Read More
Mr Tommy Sithole

Zimpapers records 59pc revenue growth

ZIMBABWE’S biggest diversified media group, Zimbabwe Newspapers (1980) Limited’s revenue increased by 59 percent to $40,7 billion in the first six months of the year with all units posting improved revenues and registering 8,4 million visitors to the group’s websites. The group chairman, Mr Tommy Sithole said the media group will seek to capitalise on […]

Read More
Zimbabwe National Industrial Development

World Tourism Day marked amid boom

THE manufacturing sector is envisaged to register at least two percent and three percent growth rate per annum and sector investment respectively by 2030 on top of increased manufactured exports of 10 per annum, the new Zimbabwe National Industrial Development that is set to play a vital role in Zimbabwe’s pursuit of economic prosperity by […]

Read More