From extraction to transformation: Africa’s critical minerals moment

Much of the world is asking what Africa can supply: copper for grids, cobalt and graphite for batteries, minerals for data centres, energy systems and advanced manufacturing. But the more consequential question is what Africa can build.

In 2022–2024, more than half of the world’s economies still depended heavily on primary commodities, with the highest levels concentrated among vulnerable economies, including many in Africa.

Reliance on raw commodity exports exposes countries to price swings, external shocks and fiscal pressure. Natural wealth can generate export earnings without producing enough industrial transformation. ...