Success requires regional collaboration

African countries must stop exporting raw minerals while importing inflation if they want to address the continent’s most pressing challenges. Sumaila Zubairu, president and CEO of Africa Finance Corporation (AFC), said Africa’s mineral wealth, valued at an estimated $29.5 trillion, would remain meaningless if the continent continued exporting raw materials and importing processed materials without building domestic value chains. “Mining remains central to Africa’s economic future, underpinning industrialisation, infrastructure development and the global energy transition.” According to the AFC, the continent holds an estimated 20% of the world’s mineral wealth, yet captures only a fraction of the economic value derived from it. A new study by the AFC titled the ‘Compendium of Africa’s Strategic Minerals’, found some $8.6 trillion of the continent’s total mineral wealth remains undeveloped, reflecting an underexplored continent where fragmented geological data, uneven survey coverage and limited transparency continue to elevate risk perception and constrain investment. The report argues that improving the availability, quality and accessibility of geological data is a first step in de-risking projects and unlocking much-needed exploration capital. It further highlights the critical role of infrastructure, placing it at the centre of any mineral strategy on the continent. Zubairu said infrastructure was not just a passive enabler but the system that linked raw materials, processing capacity and demand. Power cost and reliability, transport connectivity and access to industrial land ultimately determine whether beneficiation is viable. He said mining projects had to be established alongside railways, ports, power generation hubs and transmission networks for the continent to achieve success. In addition, it required a regional approach. “Targeted interventions in shared rail corridors and cross- border power transmission, particularly in mineral-rich regions where coordinated infrastructure could unlock scale, reduce delivered costs and support regional industrial platforms are necessary.” According to Zubairu, the continent needs a fundamental change in how it looks at commodities. “At present, there are a couple of projects in southern Africa where we see some form of regional collaboration. There are also several initiatives for regional infrastructure in both East and West Africa, but the reality is that these developments are simply not enough. LV