Afreximbank Calls for Africa to Maximize Mineral Wealth Through Value Addition
The African Export-Import Bank (Afreximbank) has called on Africa’s mining industry to take decisive steps to retain and maximize the value of its vast mineral resources.
Speaking at the African Mining Indaba 2025 in Cape Town, Afreximbank Senior Executive Vice President Denys Denya emphasized the urgency of transforming Africa from a raw material exporter into an industrial powerhouse.
Denya pointed out the stark imbalance in the global mining economy, noting that despite the industry generating approximately $1.7 trillion in revenue in 2023, Africa’s share remains disproportionately low. “Our continent extracts the raw materials that power the world’s industries, yet we retain as little as four to 20 percent of the total value of our minerals due to minimal local processing and limited downstream development,” he said.
He urged collaboration among governments, financial institutions, investors, and industry stakeholders to shift Africa’s mining sector from extraction to value addition.
“Policymakers must implement clear, enforceable regulations that mandate local value addition and create investment-friendly environments,” Denya added.
To drive this transformation, he highlighted the importance of regional cooperation in building a robust mining value chain, stressing the role of the African Continental Free Trade Area (AfCFTA) in facilitating cross-border mineral trade. Afreximbank has committed to financing projects that support local processing and industrialization.
Over the past three years, the bank has approved more than $1 billion in funding for mining and mineral sector projects across the continent. These include a bauxite processing plant in Guinea, a manganese processing facility in Gabon, and working capital financing for a diamond company in Botswana.
Additional investments include a petrochemical fertilizer plant in Angola, a titanium dioxide pigment plant in South Africa, and feasibility studies for a limestone processing plant in Malawi.
Denya also highlighted Afreximbank’s role in infrastructure development, particularly through the $10-billion AfCFTA Adjustment Fund.
Furthermore, digital platforms like the Africa Trade Gateway and the Pan-African Payment and Settlement System are being utilized to streamline transactions and enhance market access.
A key initiative spearheaded by the bank is the DRC-Zambia Electric Vehicle Battery Manufacturing Special Economic Zones. This project aims to position Africa at the forefront of the global energy transition by creating competitive investment hubs for the electric vehicle battery value chain.
The African Mining Indaba 2025, running from February 3 to 6, brings together African policymakers, industry leaders, and global partners to shape the future of mining on the continent.
