Zimbabwe Launches Blockchain-Based Carbon Credit Registry to Boost Transparency

According to PANews, Zimbabwe has officially launched a blockchain-based carbon credit registry system aimed at enhancing transaction transparency and restoring investor confidence. The country's Environment Minister, Evelyn Ndlovu, announced at the launch event in Harare that the system, developed by Dubai's A6 Labs, allows for the issuance, trading, and cancellation of carbon credits with full traceability, ensuring data integrity. Previously, Zimbabwe faced challenges after abruptly canceling several carbon credit projects in 2023 and imposing a 50% revenue tax, which disrupted operations for international developers, including the Kariba Redd+ project. Last week, Zimbabwe also established the Carbon Market Management Authority (ZCMA) to oversee project approvals. According to 2023 data from California-based RippleNami, Zimbabwe's carbon credit production accounts for 12.5% of Africa's total, ranking third on the continent. Washington Zhakata, the Environment Ministry's Permanent Secretary, emphasized that developers must submit compliance applications via the zicma.org.zw platform to conduct business. Other African nations, such as Kenya and Zambia, are also strengthening regulations in this sector.