The Federal Government has announced plans to launch the Africans for Africa Fund, a new initiative aimed at mobilizing indigenous African capital to drive investments in the continent’s mineral and natural resource sectors.
Minister of Solid Minerals Development, Dr. Dele Alake, revealed this ahead of the fourth edition of the Africa Natural Resources and Energy Investment Summit (AFNIS), scheduled to take place from July 15 to 17 at the State House Conference Centre in Abuja. The theme of this year’s summit is “Harnessing Local Content for Sustainable Development.”
Speaking through the Director General of the Nigeria Mining Cadastral Office (MCO), Simon Obadiah Nkom, the minister stated that the fund would be one of the major highlights of the summit.
“One of the major highlights of this year’s summit will be the formal launch of the Africans for Africa Fund, a bold initiative designed to mobilise African capital for African priorities,” Alake said.
“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.”
The minister emphasized that the upcoming summit offers Nigeria an opportunity to showcase progress under the Renewed Hope Agenda of President Bola Ahmed Tinubu’s administration.
“We will present updates on our reforms in the solid minerals sector—local processing efforts, a renewed commitment to community development agreements, the rollout of our mineral data platform (NMRDSS), and new steps we are taking to attract responsible investment and ensure that mining benefits all stakeholders,” he said.
Since its inception in 2022, the AFNIS summit has become a premier platform for cross-sector dialogue, strategic partnerships, and investment matchmaking across Africa’s natural resource and energy sectors.
“Our theme this year 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,” Alake stated.
Key focus areas of the summit include:
Local Industrialisation: Strategies to transform Africa’s raw materials into finished products such as batteries, solar components, fertilizers, and metals.
Energy Transition: Exploring renewable and gas-based energy solutions that are clean, reliable, and tailored to African communities.
The summit is expected to bring together stakeholders from across the continent to develop sustainable solutions for Africa’s development using local content and indigenous investment models.
Do you have a story to share? Want to advertise with us? Or perhaps you need publicity for a product, service, or event?
Contact us:WhatsApp: +2348165713606 Email: nationalreports001@gmail.com
We'd love to hear from you!"
