The African Development Bank is positioning five regional critical-minerals projects for Korean investment as Africa pushes to capture more value from resources essential to the global energy transition.
The projects were presented to Korean businesses and financial institutions during the Korea-Africa High-Level Dialogue on Investment, Critical Minerals and Sustainable Value Chains in Seoul.
The engagement formed part of the 8th Korea-Africa Economic Cooperation Ministerial Conference (KOAFEC), which marks 20 years of cooperation between Korea and Africa through the African Development Bank.
Bank Group President Dr Sidi Ould Tah used the meeting to promote investment opportunities across critical minerals, infrastructure, energy, digital technologies, manufacturing and sustainable value chains.
Central to the discussions was Africa’s ambition to move beyond exporting raw minerals and instead develop industries that process, refine and manufacture more products on the continent.
“Africa’s ambition is to process more, refine more, produce more, create more jobs and retain a greater share of the value on the continent,” said Ould Tah.
Critical minerals are increasingly important to technologies supporting the global energy transition, creating an opportunity for African countries with significant mineral resources to build stronger domestic and regional value chains.
The African Development Bank presented five regional critical-minerals projects covering almost every region of the continent, opening potential investment opportunities for Korean companies.
Alongside the projects, the Bank outlined financial mechanisms designed to make African investment more attractive and reduce investor risk. These include guarantee schemes, co-financing opportunities and other risk-mitigation instruments.
The Bank also presented the Pan-African Guarantee Platform, which is being developed as a continental mechanism for sharing investment risk and mobilising additional capital.
Korean businesses used the dialogue to raise practical questions about investing on the continent. Energy and renewable-energy companies sought information about developments in African electricity markets, while a railway operator raised questions about regulatory harmonisation and conditions for foreign investment.
The African Development Bank said it continues to work with African countries to improve business environments while providing mechanisms that can support and secure private-sector investment.
The discussions also highlighted the complementary opportunity between Africa’s natural resources and development needs and Korea’s industrial, technological and investment capabilities.
“The Korea-Africa partnership now has the necessary foundations to move from goodwill to investment, from ideas to projects, and from the exchange of resources to the creation of shared industrial value,” Ould Tah said.
For Africa, attracting capital into critical minerals represents an opportunity extending beyond mining itself. Greater processing and manufacturing could support industrialisation, job creation, infrastructure development and stronger participation in global clean-technology supply chains.
The High-Level Dialogue concluded with the Bank encouraging Korean partners to move from discussions towards investment and from resource extraction towards partnerships capable of creating greater shared economic value.
