Arise IIP plans decarbonized special economic zone in Benin

Arise Integrated Industrial Platforms, a joint venture between Olam International and Africa Finance Corporation, is making waves in Africa with its plan to establish a special economic zone in the Republic of Benin. The company's CEO, Gagan Gupta, outlined the vision behind Arise IIP during a recent interview on CNBC Africa. He emphasized the importance of industrializing Africa in a sustainable manner, focusing on value addition and job creation while prioritizing environmental sustainability. The key theme of Arise IIP's approach is centered around three main principles: adding value locally, creating jobs, and promoting sustainability. Gupta highlighted the success stories of their initiatives in Gabon and Togo, where they transformed industries such as timber and cotton, leading to increased exports and job opportunities in the region. One of the key pillars of Arise IIP's strategy is carbon sustainability. The company aims to make each of its industrial zones carbon positive, utilizing solar power and promoting traceability in their products. Gupta pointed out that Gabon has already achieved certification as the first carbon-positive industrial zone in Africa, aligning with the country's goal of achieving net zero emissions by 2050. In addition to Gabon, Arise IIP is expanding its footprint to other African countries, including Togo, Benin, Ivory Coast, and Congo. Gupta highlighted the importance of policy support in driving climate-friendly industrialization, noting that governments across Africa are increasingly adopting environmental regulations to encourage sustainable practices. Gupta emphasized the need for companies to embrace Environmental, Social, and Governance (ESG) principles as a core part of their business strategy, rather than just a checklist. He cited examples of Arise IIP's commitment to sustainability, such as using solar power in their industrial zones and promoting clean industries. Looking ahead, Arise IIP aims to further expand its project pipeline across multiple countries in Africa, with a focus on achieving carbon-neutral industrialization. Gupta expressed optimism about Africa's potential to transition to clean energy and sustainability, highlighting the opportunity for the continent to leapfrog traditional industrial development and adopt green practices from the outset. As Africa progresses towards its goal of net zero emissions by 2050, Gupta emphasized the importance of each country developing its own carbon balance sheet to identify areas of pollution and establish mitigation strategies. He underscored the collaborative effort needed across the private sector, government, and various industries to drive sustainable industrialization across the continent. In conclusion, Arise IIP is leading the way in promoting green industrialization in Africa, setting a new standard for environmentally conscious development. With a focus on value addition, job creation, and sustainability, the company is paving the path for a greener and more prosperous future for the continent.