The African Union Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, Francisca Tatchououp Belobe, has urged African nations to reinforce domestic investment and industrial expansion to guarantee that the continent preserves greater value derived from its mineral resources.
She emphasized that Africa’s mineral development strategy must transcend the mere attraction of international investors and instead concentrate on establishing African-controlled enterprises equipped to refine resources, generate employment opportunities, and stimulate industrial advancement.
During her address at the Mining in Motion Conference on Monday, October 19, Ms Belobe underscored the importance of African nations enhancing regional collaboration and cultivating industries capable of competing effectively on the international stage.
“Our objective must extend beyond simply attracting investors to Africa. Rather, it must focus on cultivating African investors, African industries, and African enterprises that possess the capacity to generate and preserve value within our continent,” she stated.
Ms Belobe emphasized that while mineral resources constitute national assets, the development of competitive industries necessitates cooperative efforts among countries by linking their resources to dependable infrastructure, energy networks, industrial competencies, and commercial markets.
In her assessment, the African Continental Free Trade Area (AfCFTA) offers a valuable platform to broaden regional commercial opportunities and facilitate the establishment of interconnected mineral value chains throughout the continent.
Nevertheless, she cautioned that accomplishing this objective would demand improved coordination of industrial strategies, investment regulations, and domestic content policies to minimize divisions among African states.
Ms Belobe called upon African administrations to transition from independent national programs toward mutually reinforcing regional value chains that would bolster the continent’s industrial strength and enhance its capacity to capitalize on its mineral resources.
The African Mining Vision establishes our strategic framework, while the African Green Mineral Strategy delineates priorities for environmentally sustainable mineral-based industrialisation. Additionally, the African Union Commodity Strategy reinforces our comprehensive approach to commodity development.
These frameworks, in conjunction with the AfCFTA, she noted, possess the capacity to facilitate the development of more robust regional and continental markets, contingent upon African nations converting their pledges into synchronized implementation efforts.
