Africa – rich in critical minerals – will accelerate intra-continental trade and harness its natural resources for sustainable development by rolling out effective trade policies, to benefit from the global rush for green energy transition.
With approximately 30% of the world’s mineral reserves, including cobalt, lithium, and nickel, which are considered essential for the green transition, African countries need to exploit these resources to drive its development, particularly trade and industrialization, experts say.
An Expert Group Meeting (EGM) on Africa’s Critical Minerals in the Context of Trade Policy hosted by the African Trade Policy Centre (ATPC) of the United Nations Economic Commission for Africa (ECA) on December 16–17, 2024 in Addis highlighted that Africa already has the right strategies and policies in place to harness its mineral resources. However, what is missing is deliberate action to realise this potential as the continent risks losing the full benefits of these critical minerals to global investors.
Speaking at the opening of the EGM, ECA Deputy Executive Secretary, Antonio Pedro, stressed it was time for Africa to leverage its political and economic integration for development. The continent already has policies to promote the development of its mineral resources.
