Franklin Edochie, AFC's Senior Vice President of Natural Resources, Mining & Energy, emphasized that financial partnerships are one of three critical components to ensure timely and cost-effective project development, in an interview with Energy Capital & Power at CMA 2024.

Accelerating Africa's mineral development relies heavily on strategic financial partnerships among African development finance institutions, commercial banks and international partners, he said 

“Despite reaching financing criteria, mining projects across the globe are starved of financing, especially in the junior miners’ space,” said Edochie, noting that major investors tend to favor larger companies. 

Beyond financial collaboration, Edochie underscored the importance of regional integration within Africa's mineral value chain to enhance value addition and local processing.

“It’s essential for projects to monitor their position within quota limits due to Africa’s structural challenges and shifting commodity markets. To navigate market fluctuations and ensure long-term viability, there must be an emphasis on adding value within Africa. By processing minerals locally, mines can achieve greater sustainability and secure stable market access,” stated Edochie.

He also highlighted the need for greater collaboration in mining technology research and development, noting that Africa faces a technology access gap that limits value chain optimization.

Edochie reaffirmed the AFC's commitment to supporting the bankability and development of critical mineral projects across Africa through its project development initiatives.