Africa holds roughly 30% of the world’s mineral reserves, placing the continent at the center of the global race for critical resources.
From the copper deposits of Zambia and the Democratic Republic of the Congo to South Africa’s platinum and manganese resources, Africa possesses minerals essential to industries ranging from electronics and telecommunications to electric vehicles and renewable energy.
But the value of these resources goes far beyond what leaves the continent as raw material.
A growing push across Africa is focused on value addition: processing minerals locally, developing manufacturing industries, creating skilled jobs and retaining more of the wealth generated from the continent’s natural resources.
The opportunity is enormous. The World Bank notes that Africa’s mineral wealth could support stronger economic growth if countries improve governance, investment, infrastructure and domestic processing capacity.
As demand for critical minerals rises alongside the global energy transition, the question is becoming increasingly important:
Will Africa continue to export its raw wealth, or build the industries needed to capture more of its value?
Source: @africa
