BREAKING: FG to unveil ‘Africans for Africa’ fund for mining sector

The Federal Government is set to unveil a bold financing initiative known as the “Africans for Africa Fund” to mobilise capital within the continent for the development of Africa’s mining and natural resource sectors.

 

The announcement was made on Tuesday in Abuja by the Minister of Solid Minerals Development, Dr. Dele Alake, during a briefing ahead of the 2025 African Natural Resources and Energy Investment Summit, scheduled for July 15 to 17 at the State House Conference Centre, Abuja.

 

Represented by the Director-General of the Mining Cadastre Office, Obadiah Nkom, the minister said the fund aims to harness African capital for African priorities, with a focus on industrialisation, resource beneficiation, and strategic investments across the solid minerals value chain.

 

He highlighted that the Fund would be one of the key highlights of the fourth edition of AFNIS, which has now grown into Africa’s flagship platform for investment matchmaking, cross-sector dialogue and long-term strategic partnerships in the extractives industry.

 

He said, “One of the major highlights this year will be the formal launch of the ‘Africans for Africa’ Fund; a bold initiative designed to mobilise African capital for African priorities. This isn’t a slogan. It’s a shift in mindset. We are saying clearly: the time has come for Africans to invest in Africa, to back our industries, our innovations, and our infrastructure with the resources we already have.

 

“This isn’t a slogan. It’s a shift in mindset. We are saying clearly: the time has come for Africans to invest in Africa, to back our industries, our innovations, and our infrastructure with the resources we already have,” Alake said.

 

According to him, the summit’s theme, “Harnessing Local Content for Sustainable Development”, reflects a bold pivot from raw material exports to domestic value addition and job creation.

 

“This year’s theme encourages a serious rethink about how Africa can shift away from exporting raw materials and instead build factories, refine minerals, generate power locally, and create jobs at home. This summit is about building value where the resources come from.

 

“What does that mean in real terms? It means we are done talking about potential. It means we are focused on production. On adding value. On ensuring that the minerals we mine, the gas we flare, the land we farm, and the sun that shines abundantly on this continent are all translated into real, measurable improvements in the lives of our people,” he stated.

 

Tracing the growth of the summit since its inception in 2022, the minister said the 2024 edition marked a turning point with the formal introduction of the “Africans for Africa” concept, which resonated strongly among governments, development partners, and private sector leaders across the continent.

 

“The 2024 summit was not only graced by the Vice President of Nigeria, representing the President, but also served as the launchpad for the ‘Africans for Africa’ initiative. That edition showcased technology solutions, drew over 1,000 stakeholders, and catalysed concrete investment commitments,” he said.

 

Alake, who also chairs the Africa Minerals Strategy Group, stated that AFNIS 2025 would feature several high-level engagements including a Ministerial and CEO Retreat, a Strategic Partnership Summit, and a Technical and Investment Forum focused on key topics such as ESG, critical minerals, and agriculture-mining integration.

 

“We will explore how mining and agriculture, petrochemicals and energy, can be coordinated in a way that makes sense for long-term growth,” he said.

 

The minister disclosed that speakers already confirmed for the summit include Hon. Hassan Joho of Kenya, H.E. Julius Mattai of Sierra Leone, Ms. Damilola Ogunbiyi, and ministers from countries such as Malawi, Liberia, Senegal, and South Sudan.

 

Nigeria, he noted, will use the summit to showcase progress under the Renewed Hope Agenda of President Bola Tinubu’s administration, including reforms in the solid minerals sector, local processing efforts, rollout of a national mineral data platform, and the push for more community development agreements.

 

“We will present updates on our reforms in the solid minerals sector—local processing efforts, renewed commitment to community development agreements, the rollout of our mineral data platform, and new steps we’re taking to attract responsible investment and ensure that mining benefits all stakeholders,” he said.

 

He called on ministries, agencies, companies, civil society, and development partners to use AFNIS 2025 as a launchpad for bold initiatives and collaborative efforts.

 

“This is our moment to send a message: that Africa is serious about owning and leading its resource future. That we’re no longer content to sit on wealth, we are ready to build with it,” the minister said.

 

 

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