Afreximbank backs Africa metals, minerals processing with $300m

The Fund for Export Development in Africa, the development equity impact investment arm of the African Export-Import Bank (Afreximbank), has announced a $300m strategic investment in the Africa Minerals and Metals Processing Platform.

In a statement signed by Communications and Events Manager (Media Relations) Vincent Musumba, the investment reflects Afreximbank’s commitment to supporting Africa’s mining sector and ensuring the continent’s vast mineral wealth becomes a catalyst for sustainable economic growth rather than a source of continued resource dependency.

FEDA is the impact investment subsidiary of Afreximbank, set up to provide equity, quasi-equity, and debt capital to finance the multi-billion-dollar funding gap, particularly in equity, needed to transform the trade sector in Africa.

The A2MP is a diversified pan-African platform focused on mining and processing. The platform aims to unlock and scale mineral and metal value chains sustainably across the continent. It currently operates a robust pipeline of 12 mineral assets and four processing hubs, with a diversified portfolio spanning nine countries.

FEDA said the A2MP brings together a diversified portfolio of leading mining assets and operating companies across multiple mineral classes, including gold, bauxite and alumina, manganese, iron ore, and others. It will also develop additional processing hubs, including those for rare earths, battery precursors, and other critical minerals, to strengthen value addition across the continent.

New President and Chairman of the Board of Directors of Afreximbank and FEDA, Dr George Elombi, said: “We are pleased to have successfully closed this investment in Africa Minerals and Metals Processing Platform, which aligns with our broad vision to change the structure of Africa’s trade and economy.

With this investment, Afreximbank is helping the continent transition structurally from raw-material exports to a fully integrated system of mining and local manufacturing. “Our investment in the platform will scale local processing capacity and build the infrastructure needed for value addition across multiple mineral classes. A2MP’s integrated platform ensures that a greater share of the continent’s mineral wealth is retained within African economies, enabling the creation of competitive industrial clusters and high-value jobs.”

Founder of A2MP, Gagan Gupta, said: “FEDA and Afreximbank’s support marks a pivotal moment for Africa’s industrial journey. It’s more than a financial partnership; it is a bold affirmation of Africa’s potential to lead the global value chain in minerals and metals. This strategic investment allows us to scale our fully integrated model of responsible extraction, processing, and transformation while accelerating the creation of high-value local industries across Africa.

“Our ambition is to make A2MP the backbone of the continent’s next industrial revolution, create thousands of jobs, and deliver lasting impact for communities. With FEDA and Afreximbank as key partners, we are confident in our ability to shift global perceptions of Africa from a resource-rich continent to a processing and manufacturing powerhouse.”

Chief Executive Officer of FEDA, Marlene Ngoyi, added: “Our investment in A2MP embodies the type of transformative investment that aligns perfectly with our vision for Africa’s mining future. The platform’s model is built on retaining beneficiation and processing within the continent, ensuring that the real economic value of Africa’s mineral wealth is captured locally.

“By offering diversified exposure across a broad range of strategic minerals, A2MP stands out as a unique platform capable of building depth across critical value chains while providing resilience and sustainability.”

Sources: https://punchng.com/afreximbank-backs-africa-metals-minerals-processing-with-300m