The Federal Government is set to unveil the “Africans for Africa Fund,” a new financing initiative aimed at mobilising capital within the continent for the development of Africa’s mining and natural resource sectors.
The announcement was made on Tuesday in Abuja by the Minister of Solid Minerals Development, Dr. Dele Alake, during a media briefing ahead of the 2025 African Natural Resources and Energy Investment Summit (AFNIS), scheduled to take place from July 15 to 17 at the State House Conference Centre, Abuja.
Represented by the Director-General of the Mining Cadastre Office, Obadiah Nkom, the minister said the fund is designed to harness African capital for African priorities, with emphasis on industrialisation, value addition, and strategic investments across the solid minerals value chain.
“One of the major highlights this year will be the formal launch of the ‘Africans for Africa’ Fund, a bold initiative designed to mobilise African capital for African priorities. This isn’t a slogan. It’s a shift in mindset. We are saying clearly: the time has come for Africans to invest in Africa, to back our industries, our innovations, and our infrastructure with the resources we already have,” Alake said.
The summit’s theme, “Harnessing Local Content for Sustainable Development,” he explained, marks a strategic move from raw material exports to domestic value addition and job creation.
“This year’s theme encourages a serious rethink about how Africa can shift away from exporting raw materials and instead build factories, refine minerals, generate power locally, and create jobs at home. This summit is about building value where the resources come from,” he added.
Tracing the growth of the summit since its inception in 2022, Alake noted that the 2024 edition was a turning point, as it introduced the “Africans for Africa” concept. That event, which featured Nigeria’s Vice President and drew over 1,000 participants, resulted in significant investment commitments and showcased technological innovations.
AFNIS 2025 will feature several high-level sessions, including a Ministerial and CEO Retreat, a Strategic Partnership Summit, and a Technical and Investment Forum covering topics such as environmental, social and governance (ESG) standards, critical minerals, and the integration of agriculture and mining.
The minister confirmed that key speakers already scheduled to attend include Hon. Hassan Joho of Kenya, H.E. Julius Mattai of Sierra Leone, Ms. Damilola Ogunbiyi, and ministers from Malawi, Liberia, Senegal, and South Sudan.
Nigeria, he said, will use the platform to showcase progress under President Bola Tinubu’s Renewed Hope Agenda, including local processing efforts, the launch of a national mineral data platform, and strengthened community development agreements.
“We will present updates on our reforms in the solid minerals sector—local processing efforts, renewed commitment to community development agreements, the rollout of our mineral data platform, and new steps we’re taking to attract responsible investment and ensure that mining benefits all stakeholders,” Alake stated.
He urged ministries, agencies, private sector players, civil society, and development partners to leverage the AFNIS 2025 summit as a platform for launching impactful initiatives.
“This is our moment to send a message: that Africa is serious about owning and leading its resource future. That we’re no longer content to sit on wealth—we are ready to build with it,” he said.
