As the global race for clean energy intensifies, Africa is fast emerging as a key player in the supply of critical minerals vital to renewable technologies and electric vehicles.
With an estimated 30% of the world’s critical mineral reserves—including cobalt, lithium, platinum group metals, and rare earths—the continent is drawing increased interest from international investors. But experts warn that Africa must avoid past pitfalls of raw extraction and instead focus on value-added industries that benefit local economies.
“The global energy transition is already creating massive demand for lithium, cobalt, and other minerals,” said Veronica Bolton Smith, CEO of the Critical Minerals Africa Group. She noted that if managed wisely, “critical minerals could add at least 12 percent to the continent’s GDP by mid-century,” citing an IMF forecast.
Countries like South Africa, Zimbabwe, and the Democratic Republic of Congo are already major producers of minerals used in batteries, solar panels, and wind turbines. Meanwhile, nations such as Angola, Malawi, and Tanzania are preparing to launch eight rare earth mining projects by 2029—expected to contribute nearly 9% of the world’s supply.
To ensure African countries benefit fully, some governments are taking a stand. In 2022, Zimbabwe banned raw lithium exports, requiring foreign buyers to invest in local battery manufacturing instead.
China currently controls over two-thirds of global rare earth mineral production, but Western nations are eyeing Africa to diversify their supply chains and reduce reliance on Beijing.
“Africa holds the key to global energy security,” the report notes, but calls for “sustainable, transparent investment strategies” to prevent a new form of green colonialism. A World Economic Forum paper suggested even a small foothold in battery manufacturing could create up to 1 million jobs across Africa.
As the world pivots to clean energy, Africa’s mineral wealth is in the spotlight—not just as a source of raw materials, but as a springboard for industrial growth and green development.
