Feb 22 β€’ 12:30 UTC 🌍 Africa AllAfrica

Africa: Africa's Regional Blocs Must Prevent a Silent Scramble for Critical Minerals

A silent scramble for Africa's mineral wealth, crucial for the green transition, necessitates strategic actions from regional blocs to safeguard the continent's interests.

The continent of Africa is experiencing a new form of resource competition characterized by the demand for critical minerals essential for electric vehicles and renewable energy systems. Unlike the historical scramble driven by colonial ambitions, this modern race involves high-level trade delegations and global supply chains targeting minerals like lithium, cobalt, and manganese. The stakes are high as these resources are fundamental to powering the green transition, but the competition is quieter and may lead to significant economic consequences if not managed properly.

Africa's current geopolitical landscape differs markedly from its colonial past. Today, the continent is bolstered by regional economic blocs capable of influencing the outcomes of resource competition. For instance, the Southern African Development Community (SADC) is strategically positioned to capitalize on its mineral wealth, particularly as countries like the Democratic Republic of Congo, Zimbabwe, and South Africa hold major shares of cobalt, lithium, and platinum, respectively. This presents an opportunity for these nations to collaborate rather than engage in fragmented competition for attracting foreign investments and partnerships.

To avoid the pitfalls of past resource exploitation, African leaders must unite their efforts through these regional blocs to develop cohesive policies that protect and enhance their resource advantages. By advancing a collaborative approach, the continent can secure better trade terms, regulate the extraction of these natural resources, and ensure that the benefits of this new scramble contribute to sustainable development and economic empowerment for its people. The choices made in this context could redefine Africa's role in the global economy and dictate the terms of trade for years to come.

πŸ“‘ Similar Coverage