Securing Minerals for the Energy Transition: Finance for Southern Africa
Critical minerals are essential to the energy transition, powering electric vehicles, renewable energy systems and energy storage technologies. Southern Africa holds nearly 30% of the world’s reserves, including cobalt, copper, graphite, lithium, manganese and platinum-group metals, yet attracts less than 10% of global exploration financing. Unlocking this potential is critical to strengthening global supply resilience and driving inclusive growth across the region.
Critical minerals are essential to the energy transition, powering electric vehicles, renewable energy systems and energy storage technologies. Southern Africa holds nearly 30% of the world’s reserves, including cobalt, copper, graphite, lithium, manganese and platinum-group metals, yet attracts less than 10% of global exploration financing. Unlocking this potential is critical to strengthening global supply resilience and driving inclusive growth across the region.
This report, developed under the Securing Minerals for the Energy Transition (SMET) initiative by the World Economic Forum, the Development Bank of Southern Africa and McKinsey & Company as a knowledge partner, identifies financing barriers and practical solutions to scale critical minerals value chains in Southern Africa. Drawing on multistakeholder consultations, it highlights replicable case studies that can de-risk investment, build infrastructure, support local value addition, and position Southern Africa as a key player in the global clean energy economy.