insert_link Africa COP28: Africa could lose $25 billion per year as new EU carbon tax comes into effect, warns African Development Bank’s Adesina African Development Bank Group President Dr Akinwumi Adesina has warned that a new EU carbon border tax could significantly constrain Africa’s trade and industrialization progress by penalizing value-added exports including steel, cement, iron, aluminium and fertilizers. Adesina said, “With Africa’s energy deficit and reliance mainly on fossil fuels, especially diesel, the implication is that Africa will be forced to export raw commodities again into Europe, which will further cause de-industrialisation of […] todayDecember 7, 2023 8
