- Africa holds nearly a third of the world’s critical minerals for energy transition and emerging technologies
- Both countries aim to use current mineral wealth to finance industrial diversification and reduce dependence on single commodities
- Emerging priorities include skills development, technology adoption, and sustainable mining practices
Africa is often said to hold nearly a third of the world’s known reserves of minerals critical for the energy transition and emerging industrial technologies. This statistic has long been cited in policy papers and investor presentations as a symbol of potential rather than a reflection of concrete strategy—but that is starting to change.
Over the past year, policymakers in several major African mining countries have introduced new frameworks focused on local content and domestic participation, aiming to bring processing and manufacturing closer to the source. The goal is to create beneficiation within national economies and attract investment into the broader mining ecosystem, rather than limiting it to raw extraction.
This approach has been welcomed as a long-overdue alignment between resource ownership and national development, while maintaining the need to attract capital and provide a stable, investor-friendly environment.
Botswana: Diversifying Beyond Diamonds
Botswana and Ghana exemplify countries implementing strategies to strengthen national participation, diversify from historically dominant commodities, and improve regulatory coherence.
In Botswana, diamonds still dominate the economy—accounting for around 80% of export earnings, one-third of fiscal revenue, and a quarter of GDP, making the country the world’s largest diamond producer by value. Yet, policymakers and investors are increasingly turning to critical minerals such as copper, nickel, soda ash, manganese, lithium, uranium, and gold, driven by global demand for clean-energy inputs.
Exploration in the Kalahari Copper Belt and Tati Greenstone Belt has intensified, supported by geological and data-driven technologies, with companies like BHP and local operators investing in battery metals and gold projects aimed at adding value and enhancing sustainability.
The Mines and Minerals (Amendment) Act No. 14 of 2024, which took effect in October 2025, introduced reforms to promote beneficiation and enhance citizen participation. Key provisions include:
- 24% citizen equity participation; if the State does not exercise its interest, the block is offered to citizens or citizen-owned companies.
- Mandatory environmental rehabilitation trust funds or financial guarantees from Botswana-registered banks.
Botswana maintains one of Africa’s most liberal financial regimes, with no exchange controls and simple capital repatriation. Combined with political stability and consistent policy execution, the country remains highly attractive for mining investment.
Ghana: Reforming Gold Mining and Broadening Minerals
Ghana, Africa’s top gold producer, is implementing its most significant mining law overhaul in nearly two decades. Reforms include:
- Time-bound mining licenses linked to environmental, social, and production performance.
- Direct revenue-sharing with local communities, replacing discretionary development agreements.
- Clearer licensing structures for mid-tier operators and review of stability agreements.
- Local content requirements, ensuring surface mining is 100% Ghanaian-owned and underground operations have at least 30% local ownership.
At the same time, Ghana is working to diversify beyond gold, which accounts for nearly 90% of mineral export revenue. Commercial lithium deposits, renewed focus on manganese and bauxite, and early-stage copper exploration signal a transition toward a more balanced and resilient mining economy.
These reforms, coupled with macroeconomic stability, a stronger cedi, and rebuilt foreign reserves, have improved investor confidence, demonstrating how regulation and macroeconomic management can reinforce one another.
Continental Momentum
Botswana and Ghana’s strategies reflect a broader African trend. Last year, the African Union launched Africa’s Green Minerals Strategy, aiming to use the continent’s mineral wealth to drive local value addition, regional industrialisation, and climate resilience.
Africa is not shutting out global capital; instead, it is making partnerships more transparent, access more structured, and alignment with national priorities more deliberate. For investors able to navigate this evolving landscape, the continent offers a unique opportunity to participate in one of the most important industrial transitions of the coming decades.
