Africa’s Critical Minerals Boom and What It Means for Treasury

It’s been over 20 months since I began exploring Africa: a journey that has been both humbling and eye-opening. While my knowledge still feels like a drop in the ocean, the depth and dynamism of Africa’s financial landscape have inspired me to start sharing what I’ve learned, because unless you’ve operated within the continent, it’s hard to truly grasp the scale of opportunity, complexity, and innovation that Africa holds.

As the world accelerates toward a green energy future, Africa is emerging not just as a participant but as a strategic enabler. From lithium in Zimbabwe to cobalt in the DRC and copper in Zambia, the continent holds some of the most critical resources needed for the energy transition.

This isn’t just a story about minerals; it’s about Africa’s growing influence in shaping the future of global sustainability, supply chains, and financial flows.

Why This Matters to Treasury Professionals

Africa’s critical minerals boom is reshaping macroeconomic dynamics, currency flows, and investment strategies across the region. For treasury professionals, this means new risks, new opportunities, and a need for deeper market understanding.

The Opportunity: Africa’s Critical Mineral Surge

Africa’s mineral dominance is undeniable:

• 80% of global platinum
• 77% of cobalt
• 51% of manganese
• 22% of gold

The DRC alone produces ~70% of the world’s mined cobalt
Africa’s energy mineral production was worth $50 billion in 2024, projected to reach $83 billion by 2040.

Global demand for electric vehicles, solar panels, and battery storage is driving a surge in investment across Africa’s mineral-rich regions. Governments are pushing for local beneficiation, while foreign investors from China to the EU —> are ramping up stakes in extraction and infrastructure.

This boom is not just about commodities. It’s about capital flows, currency dynamics, and macroeconomic shifts that will shape treasury decisions for years to come.

Treasury Implications: What’s Changing?

1. FX Volatility & Hedging Complexity
2. Inflation & Interest Rate Sensitivity
3. Funding & ESG-Linked Instruments
4. Regulatory & Sovereign Risk

Strategic Outlook: Africa as a Treasury Frontier

Africa is not just a supplier of minerals , it’s a strategic partner in the global financial ecosystem. The AfCFTA (African Continental Free Trade Area) is opening new corridors for cross-border investment and trade, while digital finance is transforming treasury operations on the ground.

For treasury professionals, this is a moment to:

• Deepen local market understanding
• Build flexible FX and liquidity models
• Engage with ESG and impact finance
• Collaborate with African institutions and fintechs

Final Thought
Africa’s green leap is more than a resource story : it’s a financial transformation. Treasury leaders who embrace this shift will not only manage risk better but also unlock new sources of value and resilience.