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Industrialization in Africa: the continent's wealth in mineral resources is indispensable

05/04/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Akinwumi Adesina, President of the African Development Bank (AfDB), recalled during his speech last week at the Berlin Energy Transition Dialogue in Germany that the wealth of Africa In terms of mineral resources essential to the energy transition, it is an opportunity for its industrialization.

In Africa, we can distinguish between 20 and 90% of the planet's reserves of 11 metals needed for the energy transition, including 55% of manganese reserves, 44% for cobalt and more than 90% for platinum group metals. Indeed, the interest that this position arouses for the EU, the United States, or China, can be used by African leaders to accelerate transformation on the continent. African states must therefore build on this potential to multiply and diversify commitments similar to those mentioned above. According to the Nigerian leader é , “Africa is the ideal place to produce the lithium-ion batteries that will power German cars style="font-family:" Bookman Old Style”, "serif"">”.”

To this end, the EU intends to invest in the local processing of Congolese cobalt and lithium, in order to supply its car manufacturers with materials for electric batteries. The organization has also signed a memorandum of understanding with Namibia, which is currently developing several lithium projects, in order to facilitate local processing and then export to factories in Europe. Similarly, there is the framework agreement announced last week by the United States for the first battery grade nickel production plant in Tanzania, destined for the American market as early as 2026.

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