Driving investments in Africa’s rare minerals through value addition

African mineral-rich countries are intensifying their efforts to deepen investments in value addition to curb exploitation by wealthier nations. This shift aims to foster new value chains in the extractives sectors, ultimately driving economic growth and development. CNBC Africa's recent exclusive interview with Hon. Chipoka Mulenga, Zambia's Minister of Commerce, Trade, and Industry shed light on the country's approach to attracting foreign investments while prioritizing sustainability and value addition. During the interview, Hon. Chipoka Mulenga emphasized Zambia's alignment with the United Nations' strategic development goals to attract investments that prioritize clean energy production and ethical practices. The Minister highlighted the importance of clean energy, stable policies, and adherence to global standards to attract investments effectively. This strategic alignment sets the stage for sustainable and responsible investment in Zambia's mineral-rich resources. Hon. Chipoka Mulenga addressed concerns regarding resource exploitation in Zambia, emphasizing the shift towards partnership and joint ventures in the country's extractive industries. The Minister stressed the importance of value addition in the mining sector to benefit local communities and enhance the country's economic growth. By promoting joint ventures and local partnerships, Zambia seeks to ensure that investments contribute to wealth and skill transfer, ultimately benefiting the local population. Furthermore, the Minister highlighted Zambia's commitment to creating a stable and attractive investment environment by providing consistency in policy pronouncements. Zambia's political stability, coupled with investor-friendly policies, tax incentives, and the introduction of special economic zones, bolsters investor confidence. The country's strategic geographical position as a hub for regional production further enhances its appeal to local and foreign investors. In response to queries about transitioning to a greener economy, Hon. Chipoka Mulenga shared Zambia's proactive approach towards embracing clean energy solutions. With a substantial reliance on hydropower and plans to expand into solar and geothermal energy systems, Zambia is positioning itself as a leader in the clean energy transition. The establishment of a Ministry dedicated to the green economy underscores Zambia's commitment to fostering innovation, research, and skills development in green technology. This focus on sustainability not only aligns with global trends towards clean energy but also positions Zambia as an attractive destination for green investments. Zambia's strategic move towards sustainable investments in its mineral-rich resources sets a promising path for economic development and environmental stewardship. By emphasizing value addition, partnership, policy consistency, and a commitment to clean energy solutions, Zambia is poised to attract long-term investments that drive inclusive growth and innovation in the region.