Africa Has the Resources, But Who Captures the Value

Africa has something the rest of the world increasingly wants. The question is whether the continent can capture more of the value from what it has.

From cobalt and copper to lithium, rare earth elements and niobium, Africa holds resources that are becoming increasingly important to energy, technology and manufacturing.

But for decades, much of the continent’s role has remained concentrated around extraction. That may be changing.

The United States recently pledged to support Kenya in developing its critical-minerals processing industry, including the potential development of the Mrima Hill deposit, which is believed to contain significant rare earth and niobium resources.

The focus is not simply on what can be taken from the ground, but on processing, technology transfer, jobs and industries built around those resources. And that is where the bigger opportunity lies.

Having resources is not the same as creating wealth from them. A mineral can be extracted in Africa, exported, refined somewhere else, turned into components and eventually sold back into global markets at a much higher value.

The resource came from Africa. But much of the value may have been created elsewhere.

A 2025 report from the African Development Bank and the Intergovernmental Forum on Mining makes a similar point: Africa’s critical minerals could support industrialisation, diversification and job creation, but doing so requires stronger value chains, infrastructure, technology, skills and financing.

So perhaps the question should no longer be: “How much of this mineral do we have?”
But: “What can we build around it?”

Processing creates industries. Manufacturing creates new businesses. Better geological data can strengthen negotiations. Local suppliers can grow around mining projects. Skills and technology can develop along the way.

Foreign investment will remain important. The bigger question is what that investment leaves behind.

Stronger industries?
Skilled workers?
Infrastructure?
Local businesses?
Or simply another shipment of raw materials leaving the continent?

Africa has spent decades being described as resource-rich. The opportunity now is to become value-rich. Because the real wealth in a mineral may not be what comes out of the ground. It may be everything we build around it.

Exemplar Projects Insights

Africa’s next resource advantage may not be having more minerals. It may be learning how to capture more of the value they create.