What's Happening?
Boston Consulting Group (BCG) has released a report identifying Africa as a key player in the global critical minerals value chain. The continent hosts large production hubs for cobalt, copper, platinum group metals, and manganese, alongside vast reserves of lithium and rare earth elements. The report outlines strategic levers for Africa to leverage its mineral endowments, including attracting investment, building regional value chains, and forging global alliances.
Why It's Important?
Africa's critical mineral resources are essential for modern energy systems and digital technologies, making secure access a matter of national strategic importance. The continent's potential to move beyond traditional extraction models and capture greater value across the mining-to-manufacturing value chain could drive economic growth and create high-quality jobs. This transformation could position African nations as essential partners in global clean energy and digital infrastructure development.
What's Next?
The report emphasizes the need for coordinated continental action to unlock Africa's full value chain advantage. Countries like South Africa, Namibia, and Morocco are already taking steps to attract investment and build regional value chains. The success of these initiatives could lead to increased collaboration and investment in Africa's critical minerals sector.
