The world is entering a new industrial era, built for critical minerals, and this presents an opportunity for Africa to transform its economies, if that transformation is undertaken strategically.
This was highlighted by UN Economic Commission for Africa (ECA) deputy executive secretary and chief economist Hanan Morsy, speaking at the Ministerial Forum on Critical Minerals, Value Chain and Beneficiation on July 10, in Abidjan, Côte d’Ivoire.
Morsy highlighted that the continent hosted about 30% of global critical mineral reserves, yet captured less than 5% of the associated value added.
“That statistic should concern us far more than the size of our reserves. It tells us that our challenge is no longer geological. It is economic and institutional,” she warned.
Therefore, she posited, the focus should be on what terms Africa participated in the global energy transition.
