The European Union has officially launched PanAfGeo+ Invest last week to support investment in Africa’s critical minerals sector, strengthening its efforts to secure resources vital for electric vehicles, renewable energy, and defense industries.
The initiative aligns with similar moves by the United States and Japan, both of which are also working to secure access to these essential materials, Ecofin Agency reported.
PanAfGeo+ Invest represents the second phase of the PanAfGeo+ program, which the EU has funded since 2016. The earlier phase focused on building capacity, training stakeholders from 54 African countries in geoscience and mining governance.
The new phase shifts attention toward identifying and supporting mining projects considered strategically important to Europe.
The initiative will initially target three countries: the Democratic Republic of Congo, Namibia, and South Africa.
However, specific details on how the program will be implemented, including funding levels, have not yet been disclosed.
PanAfGeo+ Invest builds on the AfricaMaVal project, which concluded in 2025 and helped establish partnerships between Europe and Africa aimed at promoting responsible mineral supply chains.
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The EU is also advancing related efforts such as the Global Gateway, highlighting its broader strategy to strengthen its presence and influence in Africa’s critical minerals market over the long term.
Africa is estimated to hold around 30% of the world’s critical mineral reserves, including lithium, graphite, and rare earth elements, making it a key region in the global competition for these resources.
In response, U.S. institutions like the U.S. International Development Finance Corporation and the U.S. Trade and Development Agency have stepped up support for mining projects, positioning the U.S. as an attractive destination for mineral developers.
Recent industry developments reflect this shift. Pensana abandoned plans to refine Angolan rare earth minerals in Hull, United Kingdom, citing stronger financial incentives from the U.S., according to its CEO, Paul Atherley, as reported by S&P Global.
Meanwhile, Japan continues to expand its role through JOGMEC, which is investing in Namibia’s rare earth sector, while China remains a dominant global supplier and a major player in Africa’s mining landscape. These trends suggest the EU is still catching up in some areas of strategic investment.
To remain competitive, the EU will need to effectively coordinate its tools and initiatives to ensure reliable and sustainable access to critical minerals.
For African nations, the growing international interest presents an opportunity to better leverage their natural resources, maximize economic returns, and support broader development objectives.
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Image Credit: GEPC
