On November 7, industry leaders launched the Critical Minerals Africa Group (CMAG) to strengthen connections between Africa and global markets, empower African critical minerals companies, and unlock the continent’s vast resource potential.
Sub-Saharan Africa holds around 30% of the world’s proven critical mineral reserves. The International Energy Agency forecasts sharp increases in demand for these minerals as green technology advances, with expected doubling in nickel demand, tripling for cobalt, and a tenfold rise in lithium demand.
The International Monetary Fund suggests that effective resource management could raise sub-Saharan Africa’s GDP by over 12% by 2050.
Despite its mineral wealth, Africa’s influence in global policy and supply chain discussions remains limited. CMAG aims to address this by fostering stronger connections between African markets and global investors, creating resilient and diversified supply chains that benefit local communities.
The group will work with governments and businesses to remove market entry barriers, create business-friendly environments, and promote sustainable, localized growth and green value chains across sub-Saharan Africa.
CMAG also plans to provide its members with access to funding, networking, advocacy, and branding support, helping them succeed in both African and international markets.
CEO Veronica Bolton Smith emphasized Africa’s potential to lead in critical minerals, benefiting local communities and positioning the continent as a major player in this growing global industry.
