By Benadeta Mwaura - Reporter
Côte d'Ivoire, July 16, 2026 - African leaders are seeking to transform the continent's vast critical mineral wealth into a catalyst for industrialisation, manufacturing and economic growth, shifting away from decades of exporting raw minerals with limited value addition.
The renewed push emerged during the Ministerial Forum on Critical Minerals, Value Chains and Beneficiation held in Abidjan, Côte d'Ivoire, where ministers, development institutions, private sector leaders and international partners agreed that Africa must process more of its mineral resources locally to maximise economic returns and create jobs.
The forum, organised by the African Development Bank (AfDB), concluded with a declaration urging African governments to prioritise mineral beneficiation, regional value chains and industrial development instead of relying on the export of unprocessed ores.
The discussions come as global demand for critical minerals continues to surge, driven by the rapid transition to clean energy technologies, electric vehicles, battery manufacturing, artificial intelligence infrastructure and advanced electronics.
Africa possesses approximately 30% of the world's known reserves of critical minerals, including cobalt, lithium, graphite, rare earth elements, manganese, nickel, copper and platinum group metals.
Despite this abundance, the continent continues to capture only a small fraction of the value generated from these resources because most minerals are exported in raw form for processing and manufacturing elsewhere.
This long-standing model has seen higher-value activities, including refining, battery manufacturing, technology production and industrial jobs, concentrated outside Africa.
Speaking at the forum, African Development Bank President Dr Sidi Ould Tah said Africa must fundamentally rethink how it manages its natural resources.
"By bringing together African governments, investors, development financing institutions, technical and financial partners here in Abidjan, we have opened a new chapter in relations between Africa and the rest of the world regarding the exploitation and management of critical minerals," he said.
Dr Tah stressed that Africa must establish a new development model that enables the continent to derive greater economic benefits from its own resources while improving livelihoods.
The forum identified regional integration as central to achieving that ambition.
Rather than countries competing individually, participants proposed building integrated regional value chains that connect mineral deposits with energy infrastructure, transport corridors, industrial parks, ports, financing institutions and manufacturing hubs under the African Continental Free Trade Area (AfCFTA).
Such an approach, they argued, would strengthen Africa's bargaining power in global supply chains while encouraging countries to specialise according to their comparative advantages.
Delivering the forum's declaration, Côte d'Ivoire's Minister of Mines, Petroleum and Energy Mamadou Sangafowa Coulibaly said the continent is ready to reposition its mineral resources as a driver of industrial transformation.
"Africa is ready to make critical minerals a lever for industrial transformation," he said.
The declaration calls for increased investment in electricity generation, transport infrastructure, geological surveys, mineral processing facilities, skills development, research and supportive regulatory frameworks that encourage responsible investment.
It also emphasises stronger governance, transparency and environmental sustainability across the mining sector.
United Nations Economic Commission for Africa (UNECA) Deputy Executive Secretary Dr Hanan Morsy described the global shift toward clean energy as a once-in-a-generation opportunity for Africa.
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"The world is entering an era that is built on critical minerals," she said. "For Africa, this presents an opportunity that is as significant as independence 60 years ago. But opportunities don't transform economies. Strategy does."
Morsy argued that Africa's competitive advantage lies in regional cooperation rather than fragmented national strategies.
She said coordinated industrial policies under AfCFTA would allow countries to build complementary industries while collectively capturing significantly greater value from global mineral supply chains.
International partners also highlighted the importance of creating predictable investment environments.
Jeremy Wiggins, Deputy Secretary for International Affairs at the U.S. Department of the Treasury, said Africa has the ingredients needed to become a global industrial powerhouse but warned that governance reforms remain critical.
"Africa has the human capital, the resources, and the opportunity to become the greatest industrial growth story of the 21st century," Wiggins said.
He added that good governance is not an obstacle to investment. It is what makes it endurable.
Participants further called for stronger technology transfer, increased local skills development, improved traceability of mineral supply chains and greater participation of women and young people in emerging industries linked to critical minerals.
The forum also identified the African Development Bank as a key partner in supporting project preparation, infrastructure financing, risk mitigation and investment mobilisation through its proposed New African Financial Architecture for Development (NAFAD).
The initiative is expected to help African countries prepare bankable industrial projects, attract private investment and accelerate the development of regional mineral value chains.
The discussions come at a time when competition for critical minerals has intensified globally, with major economies including the United States, China, the European Union and Japan seeking secure supplies for industries powering the green transition and digital economy.
For Africa, policymakers argue that the opportunity extends far beyond mining.
By processing minerals domestically, manufacturing intermediate and finished products, and integrating regional industries, the continent could generate millions of skilled jobs, diversify exports, increase foreign exchange earnings and reduce its dependence on commodity exports.
The Abidjan declaration signals growing continental consensus that Africa's mineral wealth should no longer primarily fuel industrialisation elsewhere but instead become the foundation of its own economic transformation.