Securing Africa’s Critical Mineral Wealth: A Role for Sovereign Wealth Funds

On September 17, the Wilson Center Africa Program hosted an event on how policymakers and private investors can think differently about how to harness Africa’s critical mineral wealth to build infrastructure and new economies on the continent.  

The event explored how sovereign wealth funds can serve as a tool to harness Africa’s critical mineral wealth to power the global energy transition while developing sustainable value chains, promoting socioeconomic growth, and expanding environmental protections. Africa Program Director Oge Onubogu and Brown Capital Management President Robert Young III gave opening remarks before inviting panelists up to the stage. 

Dr. Patrick Utomi opened the conversation with a reflection on shifting narratives surrounding Africa and the divide between sub-Saharan Africa's mineral wealth and the prosperity of its people. Panelists then engaged in discussion on a variety of issues related to Africa's mineral wealth and necessary strategies to capitalize on these natural resources, with Dr. Utomi moderating throughout. 

Helaina Matza discussed US trade strategy through projects like the Lobito Corridor, while Chipokota Mwanawasa reflected on the challenges facing Zambia's efforts to maximize value from its mineral wealth deposits. Dr. Kayode Fayemi and Governor Abdullahi Sule provided a Nigerian perspective, both speaking from experience as past and current governors of Nigeria's Ekiti and Nasarawa States, respectively. Governor Sule discussed his efforts to connect mineral markets within Nasarawa State with outside investment partners on the continent, while Dr. Fayemi similarly reflected on the measures required to coordinate actors and investment at both the subnational and national levels. To conclude, Dr. Utomi closed out the panel with a brief reflection on the conversation before opening the discussion to questions from the audience.