Africa’s mineral deposits can power the energy transition

Africa is home to extensive reserves of cobalt, copper, lithium, and other critical minerals. These minerals are poised to become the "building blocks of a new era," according to the UN Trade and Development Secretary-General.

However, it is essential to move beyond extractive models that funnel profits to developed nations and instead focus on African development and empowerment.

The current extractive models predominantly benefit developed nations, often leaving African countries with minimal gains. The Secretary-General emphasized the need to create a fairer world by ensuring that Africa benefits more significantly from its mineral wealth.

This shift would promote African development and empowerment, fostering sustainable growth across the continent.

The World Economic Forum's Securing Minerals for the Energy Transition initiative aims to promote dialogue and innovation to ensure that key minerals are available affordably and sustainably.

This initiative is critical in supporting the global energy transition while ensuring that African countries benefit from their natural resources.

Watch the video to learn more.