By Peter Omopo
Abuja, July 2, 2025 — The Federal Government has announced plans to inaugurate a groundbreaking financing initiative dubbed the “Africans for Africa Fund”, aimed at mobilising capital within the continent to drive the growth and industrialisation of Africa’s mining and natural resource sectors.
The initiative was disclosed on Tuesday by the Minister of Solid Minerals Development, Dr. Dele Alake, during a press briefing in Abuja ahead of the upcoming 2025 African Natural Resources and Energy Investment Summit (AFNIS), scheduled to take place from July 15 to 17 at the State House Conference Centre.
Represented by the Director-General of the Mining Cadastre Office, Obadiah Nkom, Alake said the new fund represents a strategic effort to reduce foreign dependence by harnessing African capital for African priorities, including resource beneficiation, infrastructure, and job creation within the solid minerals value chain.
“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,” Alake said. “This isn’t just a slogan—it’s a shift in mindset. We are saying clearly: the time has come for Africans to invest in Africa.”
According to the minister, the fund will serve as a catalyst for long-term partnerships, cross-sector dialogue, and investment matchmaking, making it a central feature of AFNIS, now recognised as the continent’s leading platform for strategic engagements in the extractives industry.
This year’s summit will run under the theme “Harnessing Local Content for Sustainable Development”, a topic Alake described as a deliberate pivot from raw material exports to domestic value addition.
“The theme encourages a serious rethink on how Africa can shift away from exporting raw materials and instead focus on building factories, refining minerals, generating local power, and creating jobs at home,” he stated.
He emphasised that the continent must move beyond discussions of untapped potential. “We are done talking about potential. It’s time for production, value addition, and measurable improvements in the lives of our people. This summit is about building value where the resources come from.”
The unveiling of the fund is expected to be a major milestone in the government’s broader strategy to transform Nigeria—and the continent—into a self-reliant hub of industrial and economic development anchored on its vast natural resource wealth.
