Green Growth Calls For Local Mineral Processing Dominate Discussions At Africa Investment Forum

Africas vast reserves of critical minerals and renewable energy potential present a unique opportunity to build local value chains and drive green growth, experts highlighted at the Africa Investment Forum AIF in Morocco this December.

The continent is estimated to hold 95 of the worlds chromium, 90 of platinum group metals, two-thirds of cobalt, 30 of lithium and manganese, and 20 of graphite. With the electric vehicle and battery market projected to grow from 7 trillion in 2030 to 59 trillion by 2050, Africa is poised to play a pivotal role in this revolution.

African and Asian investors, entrepreneurs, and industrialists convened a panel discussion at AIF on capitalising on the surge in demand for Africas critical minerals driven by the green energy transition. Sponsored by the Japanese government and the Fund for African Private Sector Assistance FAPA, the panel emphasised the importance of local processing and value addition. By processing minerals locally, Africa can not only increase the value of its exports but also create jobs and boost local economies.

Dr. Kodjo Busia, Executive Director of Green Africa Minerals, which operates in Tanzania and Dubai, noted that colonial-era patterns of raw material exports continued to persist long after many countries gained independence, citing the infamous structural adjustment policies of the 80s and 90s that failed to bring industrialization.

He, however, expressed optimism that the paradigm was shifting. African leaders have decided that its time to add value to our resources as a way of harnessing the whole venture of our natural resources.