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A warm welcome to this important forum on “Harnessing Africa’s Critical Minerals for Green Industrialisation and Sustainable Development.”
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Appreciation to the Government and people of Ethiopia for their continued hospitality and steadfast support to ECA and Africa’s multilateral engagement, and commendations to Uongozi Institute for its leadership in convening this timely dialogue.
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We recognize also the presence of H.E. Hailemariam Dessalegn Boshe, Former Prime Minister of Ethiopia, whose enduring commitment to Africa’s development, regional integration and sustainable growth continues to enrich policy discourse our collective efforts.
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Africa holds close to 30% of the world’s critical mineral reserves, including cobalt, lithium, graphite and rare earth elements, placing the continent at the center of the global energy transition.
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The Democratic Republic of Congo alone supplies over 70% of global cobalt, while countries such as Namibia and South Africa are emerging producers of rare earth elements.
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Zimbabwe and Mali possess vast lithium reserves, Tanzania and Mozambique are rich in graphite, and Guinea remains one of the world’s leading bauxite producers.
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Africa also has significant uranium production, notably in Niger and Namibia, contributing to global nuclear energy supply.
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In addition, countries particularly in Southern Africa, such as Botswana, South Africa and Namibia, are globally recognized for diamond production, underscoring Africa’s broader resource endowment.
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By 2050, global demand for cobalt and nickel is projected to triple, while demand for lithium could increase nearly tenfold, creating significant market opportunities for Africa.
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Despite this endowment, most of Africa’s minerals are exported in raw form, with only about 2% of exports traded within the continent, limiting value addition and industrial growth.
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Strategic investments in local processing and manufacturing could unlock up to US$24 billion annually in GDP and create approximately 2.3 million jobs.
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Focusing on midstream and downstream activities such as refining, battery precursor production and recycling offers greater employment potential and supports the development of a skilled workforce.
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Africa’s policy direction is guided by the Africa Mining Vision and the African Green Minerals Strategy, which prioritize value addition, industrialization and inclusive development.
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Initiatives such as the Battery and Electric Vehicle value chain, starting in the Democratic Republic of Congo and Zambia, demonstrate the continent’s ambition to build integrated regional industries.
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Through coordinated policies, regional value chains and partnerships under frameworks like the African Continental Free Trade Area, Africa can transform its mineral wealth into sustainable prosperity.
