AFNIS Secures $600M Investment, Alake Advocates Value Addition

Dele Alake, the Minister of Solid Minerals Development, called for African countries to move beyond exporting raw minerals and instead focus on value addition and industrialization. This statement was made during a press conference in Abuja ahead of the 5th African Natural Resources and Energy Investment Summit (AFNIS).

Alake emphasized the need for African nations to leverage their mineral wealth to drive economic transformation and job creation. The summit aims to bring together government officials, investors, financial institutions, mining and energy companies, and technology providers to discuss critical issues in the mining and energy sectors.

Archibald Troko, the Director of Strategy for AFNIS, disclosed that the summit has attracted $600 million in investments over the past four years and aims to encourage greater participation from local investors. The event is expected to include representatives from various countries, including the Democratic Republic of Congo, Kenya, Uganda, South Sudan, Somalia, Liberia, and Mauritania.