PANews reported on May 9 that according to Bloomberg, the Zimbabwean government officially launched a carbon credit registration system based on blockchain technology, aiming to improve transaction transparency and rebuild investor confidence. Evelyn Ndlovu, the country's environment minister, said at the launch ceremony in Harare that the system was developed by Dubai's A6 Labs and can trace the entire process of carbon credit issuance, trading and cancellation to ensure that the data cannot be tampered with. Previously, the country suddenly canceled several carbon credit projects in 2023 and imposed a mandatory levy of 50% of the proceeds, which hindered the operations of international developers including the Kariba Redd+ project.
Zimbabwe also established the Carbon Market Authority (ZCMA) last week to review and approve projects. According to California data company RippleNami's 2023 statistics, the country's carbon credit production accounted for 12.5% of Africa's total, ranking third on the continent. Washington Zhakata, permanent secretary of the Ministry of Environment, stressed that developers must submit compliance applications through the zicma.org.zw platform before they can conduct business. Currently, African countries such as Kenya and Zambia are also strengthening supervision in this area.
