HomeEconomyEnergyRESOURCE STRATEGY: MINISTER DELE ALAKE OUTLINES ROADMAP FOR AFRICA TO CAPTURE GREATER...

RESOURCE STRATEGY: MINISTER DELE ALAKE OUTLINES ROADMAP FOR AFRICA TO CAPTURE GREATER SHARE OF GLOBAL MINERAL WEALTH

The Minister of Solid Minerals Development, Dr. Oladele Alake, has called for stronger cooperation among African nations to fully harness the continent’s natural resources and strengthen its position in the global mineral supply chain.

Alake, who also serves as Chairman of the Africa Minerals Strategy Group (AMSG), made the call at the Kenya Mining Investment Conference and Exhibition 2026.

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He said Africa sits at the centre of the global shift toward clean energy and digital technology due to its vast deposits of critical minerals such as lithium, cobalt, and rare earth elements.

However, he lamented that despite this advantage, the continent still earns only a small share of the wealth generated from its resources.

According to him, Africa’s long-standing practice of exporting raw materials while importing finished goods has limited industrial growth, weakened economic resilience, and reduced job creation across the continent.

He stressed that no single African country can fully unlock the sector’s potential alone, adding that fragmented efforts continue to weaken the continent’s bargaining power in global trade.

Alake urged African countries to embrace stronger regional cooperation under frameworks such as the African Continental Free Trade Area (AfCFTA), including harmonised mining policies and shared infrastructure like mineral corridors and processing hubs.

He noted that the Africa Minerals Strategy Group has expanded significantly, growing from 16 to 31 member countries, describing it as a unified platform for improving negotiation strength and investment attraction in the sector.

The minister emphasized that Africa must move beyond extraction to value addition and manufacturing, warning that future global economic power will depend on innovation and processing capacity rather than raw material exports.

He added that value addition would create jobs, boost industrialisation, increase government revenue, and strengthen Africa’s competitiveness in emerging industries.

Alake also called for policy consistency, transparency, and environmental responsibility to improve investor confidence and ensure sustainable development.

He concluded that Africa has a historic opportunity to transform its mineral wealth into long-term economic sovereignty through unity and strategic partnerships.

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