Sub-Saharan Africa has a wealth of natural resources. It hosts some 30% of the world’s known reserves of these critical minerals, including copper, cobalt, lithium and Platinum-Group-Metals. This region has the potential to be first in the world in the global energy transition by producing key materials needed for renewable technologies. It faces deep seeds of financial dysfunction that curtail its potential.
Zambia is just one of the countries making proactive moves to improve the quality of its mining sector. The nation’s reforms are an effort to triple its copper production to three million tonnes by 2031. This ambitious target aligns with Zambia’s goal to become a leading supplier of copper, a critical component in electric vehicles and renewable energy technologies.
The Lobito Corridor project provides an additional example of the opportunity offered by the mineral wealth of Sub-Saharan Africa. This breakthrough initiative seeks to improve export access for the DRC and Zambia’s mineral-rich, landlocked interior. It will accomplish this by establishing a new, direct connection to Angola’s Port of Lobito. More developed export routes might go a long way toward increasing their share of trade and providing a better economic climate for these nations.
Financial Obstacles to Development
Yet, despite its mineral riches, Sub-Saharan Africa receives well under 10% of global exploration spending. A recent report by the World Economic Forum (WEF) outlines eight key financing barriers that hold back progress in the region. These include both rising policy uncertainty and investment risks that disincentivize would-be investors.
“We must recognize that Southern Africa has the mineral reserves the global energy transition urgently needs, but finance flows are not keeping pace,” stated Jörgen Sandström, head of WEF Transforming Industrial Ecosystems. His comments bring into focus the desperate cry for more government investment in the region’s mining and mineral sectors.
Namibia’s Green Initiatives
Underpinning Namibia’s decision is the belief that taking bold steps toward sustainable production will ultimately pay off. In mid-April 2025, the country began production from its new green iron facility. Currently powered by 100% renewable energy, this facility will be rapidly expanding its production capacity by 2030. The EU-Namibia Green Hydrogen Partnership supports this initiative, emphasizing the importance of sustainable practices in harnessing the region’s mineral wealth.
DBSA CEO Boitumelo Mosako reminded participants that Africa’s contributions and actions will be crucial to the success of global and regional transitions. “As we confront the major transitions of our time – from climate change to cyclical economic headwinds – Africa must be an active participant in shaping its own development path,” she stated. This view continues to underpin the notion that African countries have a profound ability to participate in creating globally sustainable futures whilst doing so economically.