Two senior Africa Finance Corporation executives will take center stage at next month’s African Mining Week as the continent’s development finance sector seeks to capitalize on surging global demand for critical minerals.
Molebogeng Mazibuko, the corporation’s Associate Vice President for Investment, will deliver opening remarks at the three-day Cape Town gathering starting October 1. Her address comes as African nations cement their dominance in platinum, chromium, and cobalt production amid the global energy transition.
The timing reflects broader shifts in mining finance. Development institutions are pouring resources into African extraction projects as traditional funding sources tighten. AFC alone has channeled $14 billion across sectors, generating what the organization claims is over $50 billion in GDP contributions and 7 million jobs.
Franklin Edochie, the bank’s Deputy Director for Metals and Mining, will address financing strategies during a panel on mineral industrialization. His session targets local processing capabilities, a priority as African governments push to move beyond raw material exports.
Recent AFC investments illustrate this approach. The Kamoa-Kakula copper operation in Democratic Republic of Congo now accounts for 6 percent of the country’s economic output while maintaining low emission standards. The corporation’s backing of the Lobito Rail Corridor promises to slash mineral transport times from 45 days to one week across three southern African nations.
Other portfolio additions span Nigeria’s Thor Explorations project, Sierra Leone’s FG Gold venture, and Botswana’s Giyani Metals initiative. A partnership with Nigeria’s Solid Minerals Development Fund aims to unlock commercial mining in West Africa’s largest economy.
The mining week runs alongside African Energy Week, creating a dual focus on extractives and power generation. Organizers expect the combined events to facilitate deal-making as African nations leverage their mineral wealth for economic transformation.
Industry watchers see the gathering as crucial for setting investment priorities. Global demand for battery metals and renewable energy materials continues climbing, yet many African deposits remain underdeveloped due to infrastructure gaps and financing constraints.
Source: newsghana.com.gh
