Experts, Governments and major mining chief executives have stressed the need for regional collaboration to drive economic growth at the just concluded 4th edition of the African Natural Resources and Energy Investment Summit (AFNIS 2025).
Engaging in the strategic meeting of CEOs and Inter-Ministerial discussions at the event, stakeholders with one voice agreed that Africa had huge resources which the world needed and must collaborate to develop their economy.
Gbenga Okunlola, a Professor of Economic Geology and President of the Geological Society of Africa, said Africa’s mineral wealth has the potential to drive economic growth and development on the continent.
He called on African Countries to work together to develop a comprehensive strategy for the mineral sector, including value addition, intra-African trade, and regional cooperation.
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The Don emphasised that Africa is the richest continent in terms of mineral resources, with every rock unit from the oldest to the youngest found on the continent. He noted that Africa produces 80% of the world’s platinum, two-thirds of all cobalt, and has significant reserves of gold, iron ore, and other critical minerals.
He further highlighted the significant investment potential in Africa’s mining sector, with over $20 billion in new mining projects expected in 2025 alone. He also noted that there are over $50 billion in mining-related infrastructure projects planned between 2023 and 2013
The Professor acknowledged that Africa’s mineral wealth had not translated to economic prosperity for the continent’s population. He cited the example of the Democratic Republic of Congo, which has vast copper deposits but remains one of the poorest countries in the world.
Okunola called on African leaders to work together to develop a comprehensive strategy for the mineral sector, including value addition, intra-African trade, and regional cooperation. He emphasised the need for African countries to take control of their mineral resources and use them to drive economic growth and development.
Dele Alake, Nigeria’s Minister of Solid Minerals Development, acknowledged the significant potential of Africa’s mineral wealth, emphasising the need for African countries to work together to develop a comprehensive strategy for the mineral sector and to use their mineral resources to drive economic growth and development.
The meeting highlighted the need for African countries to develop a comprehensive strategy for the mineral sector, including value addition, intra-African trade, and regional cooperation.
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The African Minerals Strategy Group was cited as a key initiative that can help drive this process forward. With Africa’s vast mineral wealth and growing demand for critical minerals, the continent has a significant opportunity to drive economic growth and development
Moses Michael Engadu, Secretary General of AMSG, emphasised the need for African countries to work together to create a prosperous future
The secretary general said, “Africa is rich in mineral resources, but the continent’s wealth has not translated to economic prosperity for its population. “Africa is not poor, Africa is rich,” he said. “We have beyond doubt confirmed that Africa is rich in vast mineral resources, but we also acknowledge that Africa is rich in resiliency.
“The AMSG has identified several key areas of focus, including Value Addition, Exploration, continuing to explore and discover new mineral resources, Financing and Critical Mineral Security.”
