Afreximbank’s call to action at the African Mining Indaba 2025 in Cape Town is a clarion call for Africa to redefine its role in the global mining industry. The bank’s senior executive vice president, Denys Denya, painted a stark picture of Africa’s current predicament: a continent rich in minerals but poor in the value derived from them. With the global mining industry generating $1.7 trillion in 2023, Africa’s share is a mere 4% to 20%, a stark indicator of the continent’s reliance on exporting raw materials and the resultant economic losses.
Denya’s message was clear: Africa must transition from being a marginal player in the global economy to a powerhouse of industrialisation and wealth creation. This transition requires bold, coordinated action from all stakeholders. Governments must implement regulations that mandate local value addition and create investment-friendly environments. Private sector investors must bring capital and technology to develop processing, refining, and manufacturing facilities. Regional collaboration, facilitated by the African Continental Free Trade Area (AfCFTA), is essential for developing intra-African mineral value chains and strengthening cross-border collaboration.
The bank has already taken significant steps to support this vision. Over the past three years, Afreximbank has approved more than $1 billion in support of mining and mineral sector projects across the continent. These projects include the development and construction 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. Other major projects supported by the bank include a petrochemical fertilizer plant in Angola, a titanium dioxide pigment plant in South Africa, and the feasibility study for a limestone mine processing plant in Malawi.
Afreximbank’s commitment extends beyond financing. The bank is also driving the development of industrial parks and special economic zones (SEZs) to address infrastructure challenges. One notable initiative is the DRC/Zambia Electric Vehicle Battery Manufacturing Special Economic Zones, which positions Africa at the centre of the global energy transition by establishing battery precursor SEZs. This project aims to make the two countries globally competitive investment destinations for the battery electric vehicle value chain.
The bank’s efforts to harmonise standards and implement the Africa Collaborative Transit Guarantee Scheme will facilitate seamless movement of minerals and mining equipment across borders, reducing logistical bottlenecks. Additionally, Afreximbank is leveraging digital platforms, such as the Africa Trade Gateway and the Pan-African Payment and Settlement System, to enable efficient transactions and market access. These initiatives ensure that Africa’s vast mineral wealth is utilised to drive industrialisation, value addition, and economic resilience across the continent.
The bank’s call to action is not just about economic growth but also about social responsibility. Policymakers must prioritise environmental, social, and governance standards to ensure that mining benefits communities rather than displacing them. This approach will create millions of skilled jobs for the youth and reduce reliance on volatile global markets while strengthening intra-African trade.
Afreximbank’s message at the African Mining Indaba 2025 is a wake-up call for Africa to take bold steps towards owning its resources, creating jobs, and building industries that sustain prosperity for generations. The bank’s commitment and the initiatives it supports are a testament to its vision of an Africa that is not just a supplier of raw materials but a leader in industrialisation and wealth creation. This vision, if realised, could reshape the global mining industry and position Africa as a key player in the global economy.