AfDB Urges Africa to Process Minerals Locally for Growth

The African Development Bank (AfDB) has called on African countries to cease the export of unprocessed minerals and instead focus on local processing to maximize economic benefits. This appeal was made during a ministerial forum held in Abidjan, Côte d'Ivoire, where participants highlighted that Africa holds 30% of the world's critical mineral deposits.

Despite possessing significant reserves of minerals such as cobalt, lithium, graphite, and nickel, the continent captures a negligible share of the economic value generated from these resources, which are often exported in raw form. The forum, presided over by AfDB President Dr.

Sidi Ould Tah, emphasized the need for greater investment in infrastructure and coherent public policies to support local processing. Dr.

Hanan Morsi from the United Nations Economic Commission for Africa (UNECA) noted the historical opportunity for Africa to transform its economy through better management of its mineral wealth, advocating for regional partnerships and technological transfer to enhance local skills and improve transparency in the mineral supply chain.