The Federal Government of Nigeria has announced plans to launch the “Africans for Africa Fund,” a groundbreaking financing initiative aimed at mobilizing African capital for Africa’s mining and natural resource development.
The announcement was made by Dr. Dele Alake, Minister of Solid Minerals Development, during a briefing ahead of the 2025 African Natural Resources and Energy Investment Summit, scheduled for July 15 to 17 in Abuja.
The fund has several key highlights. Its objective is to shift from raw material exports to local value addition, industrialization, and job creation. The focus will be on strategic investments in mining, energy, and agriculture integration. Emphasizing a mindset change, Alake said Africans must invest in Africa by backing their industries, innovations, and infrastructure with their own resources.
This matters because it reduces dependency on foreign investment by leveraging African financial resources. It promotes mineral processing instead of exporting raw materials. It also aligns with Nigeria’s Renewed Hope Agenda, which includes mining reforms, community development agreements, and a national mineral data platform.
The summit, themed “Harnessing Local Content for Sustainable Development,” will feature high-level discussions on ESG, critical minerals, and agriculture-mining synergy. Ministerial and CEO retreats will foster cross-sector partnerships. Confirmed speakers include Kenya’s Hassan Joho, Sierra Leone’s Julius Mattai, and Damilola Ogunbiyi, the UN Energy Chief.
Alake urged African governments, businesses, and investors to seize the moment. “We’re no longer content to sit on wealth, we are ready to build with it.”
