Afreximbank Calls on Africa’s Miners to Take Bold Steps in Resource Ownership
African Export-Import Bank (Afreximbank) has urged Africa’s mining industry to take decisive action to own and maximize the value of the continent’s vast mineral resources. Speaking at the African Mining Indaba 2025 in Cape Town, Afreximbank Senior Executive Vice President Denys Denya emphasized the urgent need for Africa to transition from being a mere exporter of raw materials to an industrial powerhouse.
Denya highlighted the stark disparity in the global mining economy, revealing that while the industry generated 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 called for collaboration between governments, financial institutions, investors, and industry players to transform Africa’s mining sector from mere extraction to value addition and wealth creation. “Policymakers must implement clear, enforceable regulations that mandate local value addition and create investment-friendly environments,” he added.
To reverse this trend, Denya stressed the importance of regional collaboration in building a mining value chain, emphasizing the role of the African Continental Free Trade Area (AfCFTA) in strengthening cross-border mineral trade. He also outlined Afreximbank’s commitment to supporting Africa’s mining sector by financing projects that drive local processing and industrialization.
In the past three years, Afreximbank has approved over $1 billion in mining and mineral sector projects across the continent. These include the development of a bauxite processing plant in Guinea, the expansion of a manganese processing plant in Gabon, and working capital financing for a diamond company in Botswana.
Additional projects 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 supporting infrastructure development, particularly through the establishment of the $10-billion AfCFTA Adjustment Fund. Additionally, digital platforms such as the Africa Trade Gateway and the Pan-African Payment and Settlement System are being leveraged to streamline transactions and enhance market access.
One of the bank’s most transformative initiatives is the DRC/Zambia Electric Vehicle Battery Manufacturing Special Economic Zones. This project aims to position Africa at the center of the global energy transition by developing competitive investment destinations for the battery electric vehicle value chain.
The African Mining Indaba 2025, held from February 3 to 6, brings together African policymakers, industry leaders, and global partners to shape the future of the mining sector on the continent.
