BUA Group Chairman, Abdul Samad Rabiu, has called for a strategic shift in Africa’s mining sector from the export of raw minerals to large-scale local processing and value addition, warning that the continent will remain economically vulnerable if it continues to rely on extraction-driven growth.
Rabiu made this call during a high-level session hosted by the Africa Finance Corporation (AFC) at the 2026 Mining Indaba, where industry leaders, policymakers and investors gathered to discuss the future of mining on the continent.
Don’t Miss This: Dangote Refinery cuts petrol price by N25 per litre
Speaking at the event, Rabiu argued that Africa’s long-standing dependence on exporting unprocessed minerals has limited its industrial growth, weakened job creation potential and constrained foreign exchange earnings.
He stressed that the continent must deliberately move up the value chain by investing in beneficiation, refining and downstream manufacturing.
According to him, Africa holds vast reserves of critical minerals essential for global energy transition and industrial development, yet captures only a fraction of the economic value due to limited local processing capacity.
He maintained that retaining more of the value within African economies would accelerate industrialisation, deepen supply chains and strengthen macroeconomic stability.
Rabiu noted that value addition would not only boost revenues but also create skilled employment, encourage technology transfer and support infrastructure development.
Don’t Miss This: Dangote Refinery cuts petrol price by N25 per litre
He called for coordinated efforts between governments, development finance institutions and private sector players to unlock capital for processing plants, logistics networks and energy infrastructure required to support large-scale beneficiation.
The BUA chairman emphasised the role of policy reform in achieving this transition, urging African governments to design clear frameworks that incentivise local processing while ensuring regulatory stability and investor confidence.
He added that fiscal incentives, export policies and long-term industrial strategies must align with the goal of domestic value creation.
At the session, AFC reiterated its commitment to financing projects that promote industrialisation and resource-based development across Africa. The corporation highlighted its focus on supporting infrastructure and industrial platforms that enable countries to move from raw material exports to higher-value production.
Mining Indaba 2026, one of the continent’s most influential mining gatherings, served as a platform for renewed conversations around sustainable mining, energy transition minerals and Africa’s competitive positioning in global supply chains.
Rabiu concluded that the window of opportunity created by rising global demand for critical minerals should not be wasted.
He maintained that Africa must act decisively to transform its mineral wealth into long-term economic prosperity through structured value addition rather than continued dependence on extraction alone.
Image Credit: Nairametrics
Source: Nairametrics
