Africa, the backbone of global green transformation

In the context of the accelerated transition to a decarbonised and technologically advanced global economy, critical minerals have become an essential component. 

Lithium, cobalt, graphite, manganese, platinum group metals and rare earth elements, among others, are key to clean technologies, electric vehicle batteries and renewable energy systems. In this scenario, Africa is emerging as an indispensable player due to its largely untapped mineral wealth.

According to recent estimates, the continent could hold up to 30% of the world's critical minerals, although this figure could be even higher due to extensive unexplored geological areas. For example, Africa has approximately one-fifth of the world's natural graphite, as well as significant reserves of cobalt and manganese, which are essential for lithium-ion batteries used in energy storage and electric transport.

Many African regions have a long history of mining, a sector that has historically been a driver of employment and economic activity. Today, countries such as South Africa, Zimbabwe, Ghana, Côte d'Ivoire, Gabon, Madagascar, Zambia and the Democratic Republic of Congo already contribute significantly to the global supply of essential minerals.

Guinea, for example, is the world's largest producer of bauxite, the main raw material for aluminium production. Namibia, Mali and Tanzania, meanwhile, have significant potential for graphite and lithium, elements that are increasingly in demand for the global energy industry.

South Africa and Zimbabwe also stand out for their reserves of platinum group metals, which are essential for the production of green hydrogen, as well as chromium, which is used in solar, nuclear, wind and geothermal technologies.

In addition, the development of rare earths, which are essential for the manufacture of magnets, wind turbines and electronic devices, is booming. Eight new mines are currently under development in Angola, Malawi, South Africa and Tanzania, and are expected to come on stream by 2029. These mines could account for 9% of the world's rare earth supply, compared to less than 1% produced by Africa in 2020. By the end of the decade, the continent is projected to account for 10% of global supply.

Researcher Felicity Bradstock, quoted in Oil Price, points out that the surge in demand for minerals could translate into transformative opportunities for many African countries. However, unlocking this potential requires high levels of financing and technical expertise, two factors that have historically limited the ability to add value to raw materials.


In this regard, the continent must avoid repeating the extractive patterns of the past. To this end, it is key to foster equitable partnerships with companies from the United States, Europe and other regions, not only for extraction, but also for local processing and manufacturing. In fact, the International Monetary Fund (IMF) estimates that critical minerals could account for up to 12% of African GDP by mid-century, provided that adequate levels of investment are achieved.

An example of this new direction is the decision by the Zimbabwean government, which in 2022 banned the export of raw lithium and made its sale conditional on foreign investment in battery manufacturing infrastructure. Such policies seek to ensure that African countries do not just export raw materials, but also benefit from industrial transformation processes.


According to the World Economic Forum, if Africa were to capture even a small share of the global battery manufacturing market, it could generate between 500,000 and one million jobs, contributing significantly to reducing unemployment and talent migration.


In addition, the expansion of industrial activities on the continent will increase energy demand, which in turn could attract new foreign investment in renewable energies such as solar, wind and hydroelectric power, further strengthening the value chain.

While some countries already have active mining operations, many others urgently need private investment to develop their extractive and processing industries. To achieve real transformation, new projects must be designed with responsibility, transparency and equity, so that African countries reap tangible benefits in return for supplying the world with the minerals that underpin the green transformation.


As Bradstock concludes, ensuring fair access to these opportunities requires a sustainable development model that goes beyond the historical extractive logic and avoids falling into a new green colonialism. Free trade agreements, strengthening local capacities and investing in value addition are essential steps to ensure that Africa is not only the supplier of the new global economy, but also a direct beneficiary of its growth.