In a strategic move to boost Africa’s mining sector, Nigeria’s Federal Government will soon introduce the “Africans for Africa Fund,” a financing mechanism aimed at mobilizing capital from within the continent to support the development of mining and natural resource industries.
The announcement was made by the Minister of Solid Minerals Development, Dr. Dele Alake, during a press briefing in Abuja ahead of the upcoming 2025 African Natural Resources and Energy Investment Summit (AFNIS), scheduled for July 15-17 at the State House Conference Centre.
Represented by Obadiah Nkom, Director-General of the Mining Cadastre Office, Dr. Alake explained that the fund is designed to channel African investments into African priorities, focusing on industrialization, value addition, and strategic investments along the solid minerals value chain.
The “Africans for Africa” Fund will be a key highlight of the fourth AFNIS edition, which has become the continent’s leading platform for investment matchmaking, dialogue across sectors, and forging long-term partnerships in extractive industries.
Dr. Alake stated, “One of the major highlights this year will be the formal launch of the ‘Africans for Africa’ Fund; a bold initiative designed to mobilise African capital for African priorities. This isn’t a slogan. It’s a shift in mindset. We are saying clearly: the time has come for Africans to invest in Africa, to back our industries, our innovations, and our infrastructure with the resources we already have.”
The summit’s theme, “Harnessing Local Content for Sustainable Development,” reflects a decisive shift from exporting raw materials to focusing on local value addition and job creation. Dr. Alake explained, “This year’s theme encourages a serious rethink about how Africa can shift away from exporting raw materials and instead build factories, refine minerals, generate power locally, and create jobs at home.”
He emphasized the need to move beyond potential towards actual production and value addition, stating, “We are done talking about potential. It means we are focused on production. On adding value. On ensuring that the minerals we mine, the gas we flare, the land we farm, and the sun that shines abundantly on this continent are all translated into real, measurable improvements in the lives of our people.”
Since its inception in 2022, AFNIS has grown significantly. The 2024 summit marked a turning point with the introduction of the “Africans for Africa” concept, which garnered strong support from governments, development partners, and private sector leaders. The event attracted over 1,000 participants and featured technology showcases and investment commitments.
AFNIS 2025 will include high-profile sessions such as a Ministerial and CEO Retreat, a Strategic Partnership Summit, and a Technical and Investment Forum addressing ESG, critical minerals, and the integration of mining with agriculture and energy sectors.
“We will explore how mining and agriculture, petrochemicals and energy, can be coordinated in a way that makes sense for long-term growth,” Dr. Alake said.
Speakers confirmed include prominent figures such as Hon. Hassan Joho of Kenya, H.E. Julius Mattai of Sierra Leone, Ms. Damilola Ogunbiyi, and ministers from Malawi, Liberia, Senegal, and South Sudan.
Nigeria will showcase its progress under President Bola Tinubu’s Renewed Hope Agenda, highlighting reforms in the solid minerals sector, local processing initiatives, the launch of a national mineral data platform, and efforts to strengthen community development agreements.
Dr. Alake urged all stakeholders to use AFNIS 2025 to launch bold initiatives and foster collaboration, stating, “This is our moment to send a message: that Africa is serious about owning and leading its resource future. That we’re no longer content to sit on wealth, we are ready to build with it.”