At a mining conference in Accra on 19 October, Ghana's president John Mahama drew a firm line in the sand. "I've set a clear goal that by 2030, raw minerals should no longer leave our shores," he told attendees, naming bauxite, manganese, iron and lithium among the resources he wants processed on home soil before any export deal is signed.
The stakes are high. Africa holds an estimated 30% of the world's critical mineral reserves, and the continent produces more than 75% of the world's manganese, a key ingredient in electric vehicle batteries. Yet for all that natural wealth, the UN Economic Commission for Africa says the continent captures less than 5% of the value those minerals actually generate. The African Development Bank puts the opportunity cost in sharp relief: domestic processing could add $24 billion to annual GDP, lift exports by $32 billion and create 2.3 million jobs across the continent.
Ghana would not be moving alone. Zimbabwe, the DRC and Namibia have all announced their own restrictions on raw mineral exports, part of a growing continental push to stop shipping wealth out of the ground and straight overseas.
Not everyone is convinced the bans will deliver. Tresor Chovu, founder and CEO of Temple Fortune Capital, a mining-focused investment and advisory firm, puts it plainly: "Good intentions do not necessarily lead to good results." He argues that successful processing requires stable power, the right technology, a skilled workforce, local capital or strong international partnerships, and a properly organised supply chain. That is a long checklist, and 2030 is closer than it sounds.
Originally published by African Business.