The African Mining Indaba 2025, running from February 3 to 6, is a platform for key stakeholders to shape the future of Africa’s mining sector. Afreximbank has stirred minds by boldly calling for regional integration, investment, and industrialization stressing the urgent need for Africa to control its mineral wealth and build a self-sustaining economy.
The continent is vastly enriched with critical minerals that power the Net-Zero energy transition. A factor that places the region at higher prospects of leading the clean energy Just Transition. Energy in itself is a propeller of development and thus communities will have the opportunity to diversify energy use.
The leaders are continuously getting unified in their recognition of the potential bestowed in critical minerals like manganese, cobalt, and nickel among others. The African Union through the African Mineral Development Centre (AMDC) in partnership with the African Development Bank, the United Nations Economic Commission for Africa (UNECA), the African Legal Support Facility (ALSF), and other African institutions, has developed Africa’s Green Mineral Strategy to actively engage with the emerging conditions for a just and fair transition for Africa.
The strategy focuses on mineral-based industrialization in that natural resources are considered essential assets for financial development and economic growth. A move that can be made possible with a unified voice, and stance as stated by experts.
The emphasis that a shared vision could strengthen the African position and collective resources when negotiating with multinational corporations and foreign governments.
Mr. Denys Denya, Senior Executive Vice President of Afreximbank, emphasized that Africa faces a critical choice: continue exporting raw materials with minimal returns or invest in local value addition to maximize economic benefits.
According to Mr. Denya reports reveal that the global mining industry generated $1.7 trillion in 2023, yet Africa retains only 4% to 20% of its mineral wealth due to limited processing and downstream development.
“We must move beyond extraction and build industries that transform raw materials into finished products to drive economic growth and job creation.”
Mr. Denya called for strong policies, regional collaboration, and private-sector investment to support refining, smelting, and manufacturing within Africa. He also stressed the need for environmental, social, and governance (ESG) standards to ensure that mining benefits local communities.
Afreximbank Showcases Commitment to Mining and Industrialization
Afreximbank has invested over $1 billion in mining and mineral projects across the continent to support Africa’s transition to industrialization. A significant move and bold action that can be emulated by governments, investors, and financial institutions to drive more value addition and economic transformation.
These include a bauxite processing plant in Guinea, a manganese expansion project in Gabon, and diamond sector financing in Botswana. Other key projects include a petrochemical fertilizer plant in Angola and a titanium dioxide pigment plant in South Africa.
The bank is also spearheading initiatives like the $10 billion AfCFTA Adjustment Fund, aimed at financing industries adapting to the African Continental Free Trade Area (AfCFTA). Additionally, Afreximbank is supporting the DRC/Zambia Electric Vehicle Battery Manufacturing SEZs, positioning Africa as a major player in the global energy transition.
“Africa has the resources, market potential, and policy frameworks to become an industrial powerhouse,” said Mr. Denya.
