As the world shifts towards a low-carbon future in response to unrelenting climate change, demand is surging for minerals essential to this transition, many of which are found in abundance across Africa, which boasts an estimated one-third of the reserves. But growing attention is turning to a critical question: Can the continent turn this natural wealth into a lever for its own development, while securing its place as a key supplier to global markets? In an analytical note, the International Monetary Fund (IMF) forecasts that the continent stands to generate cumulative revenue of about $2-trillion from the four main critical minerals – copper, critical for electrification; nickel, key for battery cathodes and stainless steel; and lithium and cobalt, both critical for battery manufacturing – over the next 25 years.
