Frank Annoh-Dompreh, Ghana's Minority Chief Whip and Nsawam-Adoagyiri MP, has urged African leaders to convert the continent’s vast natural resources into real economic development. He stated that Africa should not allow other nations to reap the greatest benefits from its mineral wealth. This call came during a high-level working lunch between the Pan-African Parliament (PAP) and the South African Institute of International Affairs (SAIIA).
Mr. Annoh-Dompreh emphasized that Africa’s enormous reserves of critical minerals, expanding trade opportunities, and environmental assets must transform into industrial growth, jobs, and prosperity. The meeting focused on South Africa’s G20 Presidency, Africa’s role within the G20, and the implications of the incoming United States Presidency. Key discussion points included debt, trade, climate finance, and the BRICS economic bloc.
This initiative aligns with a broader continental push for resource nationalism and value addition, aiming to shift Africa's role in global supply chains. Historically, African nations have exported raw materials, missing out on the higher value generated through processing and manufacturing. This trend has often limited job creation and sustained economic dependency on external markets.
Africa possesses approximately 30% of the world’s reserves of key minerals, according to Southern Transitions representative Jordan McLean. She noted that external partners seek access to these resources beyond just the energy transition. Ms. McLean highlighted the African Green Minerals Strategy and the African Minerals Development Centre as crucial foundations for a coordinated continental approach. These initiatives aim to promote value addition and participation across the entire production chain.
Mr. Annoh-Dompreh questioned whether Africa has developed a coherent continental strategy to govern, extract, and commercialize these resources. He warned that without greater coordination, African countries would continue exporting raw minerals. Other economies would then capture greater value through refining, manufacturing, and technology production. This strategic gap prevents the continent from fully leveraging its mineral assets for sustainable development.
The Ghanaian legislator also challenged inequities in global climate finance. He questioned why promised financial support for developing countries has repeatedly failed to materialize. He observed that developed countries industrialized through carbon-intensive growth, while African countries now face stricter environmental rules for their development. This disparity creates a significant hurdle for Africa's industrialization efforts.
Furthermore, Mr. Annoh-Dompreh raised concerns about the credibility of some carbon credit arrangements operating across Africa. He called for common standards to ensure transparency and protect local communities. This issue is critical for ensuring that climate initiatives genuinely benefit African nations and their citizens.
Regarding trade, he noted that the African Continental Free Trade Area (AfCFTA) remains one of the world’s most ambitious trade agreements. However, its benefits are yet to be fully felt by ordinary Africans. He urged policymakers and researchers to communicate continental policies in simpler language. This would help citizens better understand and benefit from these crucial frameworks.
The push for local value addition in Ghana's mining sector, for example, has been a long-standing policy goal. This includes initiatives to process gold locally and develop downstream industries for other minerals. Such policies aim to create more jobs and retain a larger share of mineral wealth within the country. The broader African context reflects a growing consensus that the continent must move beyond being a mere supplier of raw materials.
The implications of these discussions are significant for Africa's economic future. A coordinated strategy for mineral resource management could attract substantial investment in processing and manufacturing. This would create millions of jobs and boost intra-African trade. Decision-makers will need to prioritize policy implementation and regional cooperation to realize these ambitious goals. The global energy transition offers a unique window for Africa to reposition itself in the global economy.