Financing Africa's Minerals: Momentum Builds Ahead of African Mining Week (AMW) 2025
Institutions such as the International Finance Corporation (IFC), African Development Bank (AfDB) and European Bank for Reconstruction and Development (ERBD) are actively funding mining projects throughout the continent. As such, the upcoming African Mining Week (AMW) – Africa's premier gathering for mining stakeholders, scheduled for October 1-3, 2025, in Cape Town – will showcase strategic moves by African mineral-rich countries to enhance cooperation with global financiers. A dedicated panel titled The Investor Perspective – Financing Africa's Mineral Industrialization will discuss the investment landscape for African mineral industrialization.
Algeria officially joined the New Development Bank – a multilateral institution founded by BRICS countries – in May this year, enhancing the country's access to capital and technical support for its oil, gas and mineral industries. That same month, Benin, Ivory Coast – one of Africa's largest gold producers – and Nigeria were designated as recipient countries by the EBRD, broadening their access to energy and mining project funding.
Meanwhile, Ghana – Africa's largest gold producer – recently joined Nigeria and Angola in completing their capital contributions to the forthcoming Africa Energy Bank. Spearheaded by the African Petroleum Producers Organization and African Export-Import Bank (Afreximbank), the bank will serve as a dedicated financing institution for African extractive sector projects.
In March 2025, Somalia also became the 53rd member of Afreximbank, a move expected to unlock new financing channels for the country's gold mining and trade-related developments. In 2024, the Ivory Coast and Botswana – the world's largest diamond producer – joined the AFC as sovereign shareholders, while Libya became the 53rd member of Afreximbank.
In line with growing efforts to align financial innovation with mineral sector development, the AfDB approved a $150 million senior loan to Mauritania's state-owned mining firm, Société Nationale Industrielle et Minière (SNIM). The funding supports a $467 million logistics expansion program aimed at doubling SNIM's iron ore railway transport capacity by 2030 and scaling up production of higher value-added products like iron ore pellets. The project integrates renewable energy through the construction of a 12 MW solar plant and includes climate resilience measures backed by the Africa Adaptation Acceleration Program.
Amidst these developments, AMW connects African policymakers with global investors to strengthen existing and forge new investment partnerships aimed at unlocking the continents full potential of its extractive sector.
Distributed by APO Group on behalf of Energy Capital&Power.
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