Banna/ Elephant grass has uses for fodder, silage, windbreak, producing carbon and more.
This grass can replant itself from roots that are sent out from the nodes after it is cut down. It competes quite strongly with surrounding tree crops and plants for nutrients and water.
We have tons of this growing on my farm in South Florida, and the animals love it. However, I think it is bonkers to go out and plant this unless you had to do some serious soil conservation. I do not mind cutting it and bringing it to the animals, but I couldn't imagine using it for mulch like so many sources recommend.
I recommend using a different mulching/grass crop besides this because it takes so much effort to keep up with this. It is fine for pastures, but that is all I could ever think to want it.