In a move expected to reshape Africa’s approach to resource development, the Federal Government of Nigeria is preparing to formally unveil the “Africans for Africa Fund” — a groundbreaking financing mechanism aimed at galvanising investments from within the continent into the mining and natural resources sectors.
The announcement was made in Abuja during a press briefing by the Minister of Solid Minerals Development, Dr. Dele Alake, ahead of the 2025 African Natural Resources and Energy Investment Summit (AFNIS), which is scheduled to take place from July 15 to 17 at the State House Conference Centre. The minister, represented by the Director-General of the Mining Cadastre Office, Obadiah Nkom, emphasised that the fund represents a strategic continental effort to pool African capital for Africa’s priorities, particularly industrialisation, beneficiation, and long-term value creation within the solid minerals sector.
Dr. Alake described the fund as a practical expression of a shift in mindset towards self-reliance and economic sovereignty. “One of the major highlights this year will be the formal launch of the ‘Africans for Africa’ Fund — a bold initiative designed to mobilise African capital for African priorities. This isn’t just a slogan. It’s a mindset shift,” he said. “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.”
According to the minister, AFNIS 2025 will be driven by the theme, “Harnessing Local Content for Sustainable Development”, underscoring a deliberate move away from the traditional model of exporting raw commodities to one that prioritises domestic processing, job creation, and sustainable growth. He stressed that Africa must no longer be seen merely as a source of raw materials but as a centre for value addition, industrial output, and innovation.
“This summit challenges us to rethink the extractives narrative,” Alake stated. “We must build factories, refine our minerals, generate power domestically, and use our vast natural endowments to lift millions out of poverty. It means we are done talking about potential. It means we are focused on production, on measurable impact, and on translating our resources into real improvements in the lives of Africans.”
The minister highlighted the evolution of the summit since its inception in 2022, noting that AFNIS has grown into Africa’s premier platform for cross-sector dialogue, investment matchmaking, and strategic partnerships in the energy and extractives space. The 2024 edition, according to him, was a turning point, as it marked the conceptual introduction of the Africans for Africa initiative — a concept that resonated widely with both government and private sector stakeholders across the continent. That edition of the summit, he noted, attracted over 1,000 participants and witnessed the presence of Nigeria’s Vice President, who represented President Bola Tinubu.
Alake, who also chairs the Africa Minerals Strategy Group, explained that the 2025 edition will build on past momentum and feature high-level engagements including a Ministerial and CEO Retreat, Strategic Partnership Summit, and Technical and Investment Forums with thematic focuses on ESG compliance, critical minerals development, and integrating agriculture with mining operations.
Among the confirmed speakers and dignitaries expected at the event are Hon. Hassan Joho from Kenya, H.E. Julius Mattai from Sierra Leone, Ms. Damilola Ogunbiyi — a leading voice in sustainable energy solutions — as well as ministers from Malawi, Liberia, Senegal, and South Sudan.
He revealed that Nigeria would use the summit to showcase key milestones achieved under President Tinubu’s Renewed Hope Agenda, particularly in the solid minerals sector. These include the launch of a national mineral data platform, the drive for increased local processing, enhanced community development agreements, and reforms aimed at attracting responsible investors.
“We will present updates on our reforms in the solid minerals sector — local processing efforts, renewed commitment to community development agreements, the rollout of our mineral data platform, and new steps we’re taking to attract responsible investment and ensure that mining benefits all stakeholders,” the minister noted.
Calling on ministries, agencies, private companies, civil society organisations, and development partners to actively engage with AFNIS 2025, the minister urged them to see the summit as an opportunity to forge transformative partnerships and design initiatives that reflect Africa’s renewed determination to lead its own development agenda.
“This is our moment to send a strong and clear message: Africa is no longer content with sitting atop untapped wealth. We are ready to build with it. This fund and this summit are about taking charge of our resource future,” Alake said.
AFNIS 2025 is expected to further entrench the vision of intra-African collaboration, local content integration, and sustainable industrialisation that aligns with the African Union’s Agenda 2063 and broader continental development goals.
