Invest in Africa – this was the shared sentiment by dignitaries on the main stage on the first day of Investing in African Mining Indaba which took place at the Cape Town International Convention Centre (CTICC).

After more than a two-year break due to Covid-19, delegates descended to attend the four-day event which started on Monday 09 May 2022. The highlight on day were the various speeches and addresses by dignitaries which included South Africa’s Minister of Department of Mineral Resources and Energy (DMRE) Gwede Mantashe, Zambian President Hakainde Hichilema and Botswana President Mokgweetsi Masisi.

During his speech to welcome delegates to South Africa, Mantashe expressed shared that it was exciting to attend Mining Indaba in person. “We are pleased to host you in a physical format after a period of virtual conferencing due to the outbreak of the Covid-19 global pandemic that disrupted the global economy and changed the ways of doing business,” he said. Mantashe also added that as an event, Mining Indaba continued to grow in stature and numbers over the years. “This is testament that Africa remains a key destination for mining investment.”

Attracting investment

Mantashe noted that Africa needed to attract investment, however performed poorly compared to other mining jurisdictions. He added that this was noted by the Fraser Institute’s Annual Survey of Mining Companies for the year 2021.

“We have noted concerns raised by miners in the surveys and we need to work hard to improve internal factors and influence external factors that contribute to these concerning results. We intend to use this platform to encourage open and honest dialogue that will help position Africa as an attractive Mining and Energy investment destination.”

President Hakainde noted that the African continent was blessed with vast mineral resources that are a key drivers of government agendas for most countries. “For example, just the two countries of this continent, Congo DR and Zambia owned over 70% of world’s resources,” he said.

“In Zambia we have taken a decision that we are tired of hearing of Africa’s potential. we want to realise that potential to drive development to alleviate poverty. And there should be no excuses from us, especially the African leaders. We must just get the job done. Our people deserve better from us as leaders,” President Hakainde added.

Opportunities in Africa

Hakainde also highlighted that Africa had vast mineral resources that remained undiscovered because of a lack of investment in exploration. “Even when they are discovered, they are not exploited, yet our people live in abject poverty.”

He also added that there was a lot of potential in vast in artisanal and small-scale mining. Hakainde explained that this was important for the local African population to be involved in the mining sector. “Small-scale mining and artisanal mining is an area even large mining houses must work with government to make it possible for people to participate in the mining sector,” he said.

“It is clear that aggressive investment into exploration to unlock the undiscovered mineral resources and create another social economic impact, that will not only make many of our people absent from poverty, but create new wealth prosperity on our continent,” Hakainde said.

During his address, Botswana President Mokgweetsi Masisi mentioned that mining remains the most important sector for Botswana’s economy. “This Mining Indaba conference is taking place at the right time when the world when the world is emerging from a pandemic that brought businesses to s standstill,” Masisi said. He noted that it was good to see signs of recoveries were beginning to show.

“Our resource endowment as a country and a continent must be translated into a competitive advantage for value-added manufacturing that can contribute to job creation, investment, and export growth,” concluded Mantashe.

Additional Reading?

Request Free Copy