The Federal Government of Nigeria is preparing to unveil a pioneering financing initiative named the “Africans for Africa Fund,” designed to mobilize capital from within the continent to accelerate the development of Africa’s mining and natural resource sectors.
This announcement was made on Tuesday in Abuja by the Minister of Solid Minerals Development, Dr. Dele Alake, during a briefing ahead of the 2025 African Natural Resources and Energy Investment Summit (AFNIS), which will take place from July 15 to 17 at the State House Conference Centre, Abuja.
Represented by the Director-General of the Mining Cadastre Office, Obadiah Nkom, Dr. Alake explained that the fund’s primary objective is to harness African capital for African priorities. The focus will be on industrialization, resource beneficiation, and strategic investments throughout the solid minerals value chain.
Okay.ng reports that the fund will be a central feature of the fourth edition of AFNIS, which has evolved into Africa’s premier platform for investment matchmaking, cross-sector dialogue, and fostering long-term strategic partnerships in the extractive industries.
Dr. Alake emphasized, “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 a slogan. It’s a shift in mindset. 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.”
The summit’s theme, “Harnessing Local Content for Sustainable Development,” underscores a strategic pivot from merely exporting raw materials to focusing on domestic value addition and job creation. According to Alake, “This year’s theme encourages a serious rethink about how Africa can shift away from exporting raw materials and instead build factories, refine minerals, generate power locally, and create jobs at home. This summit is about building value where the resources come from.”
He further added, “What does that mean in real terms? It means we are done talking about potential. It means we are focused on production. On adding value. On ensuring that the minerals we mine, the gas we flare, the land we farm, and the sun that shines abundantly on this continent are all translated into real, measurable improvements in the lives of our people.”
Tracing the summit’s growth since its inception in 2022, Dr. Alake noted that the 2024 edition marked a significant milestone with the formal introduction of the “Africans for Africa” concept. That event attracted over 1,000 stakeholders, showcased innovative technology solutions, and catalyzed concrete investment commitments. It was also graced by Nigeria’s Vice President, who represented the President.
Looking ahead, AFNIS 2025 will feature high-level engagements such as a Ministerial and CEO Retreat, a Strategic Partnership Summit, and a Technical and Investment Forum focusing on Environmental, Social, and Governance (ESG) issues, critical minerals, and the integration of agriculture and mining sectors.
“We will explore how mining and agriculture, petrochemicals and energy, can be coordinated in a way that makes sense for long-term growth,” said Alake.
Confirmed speakers include Hon. Hassan Joho of Kenya, H.E. Julius Mattai of Sierra Leone, Ms. Damilola Ogunbiyi, and ministers from Malawi, Liberia, Senegal, and South Sudan.
Nigeria will use the summit to highlight progress under President Bola Tinubu’s Renewed Hope Agenda, including reforms in the solid minerals sector, local processing efforts, the rollout of a national mineral data platform, and initiatives to strengthen community development agreements.
“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,” Alake stated.
He urged ministries, agencies, companies, civil society, and development partners to leverage AFNIS 2025 as a platform for bold initiatives and collaborative efforts, declaring, “This is our moment to send a message: that Africa is serious about owning and leading its resource future. That we’re no longer content to sit on wealth, we are ready to build with it.”
