A bold new chapter in Africa’s pursuit of mineral sovereignty unfolded with the official launch of the Africans for Africa Fund (AfA Fund) at the recently concluded African Natural Resources and Investment Summit (AFNIS) 2025 in Abuja.
The fund, a product of collaborative efforts by Core International, Motimosé Metals, Africa Minerals Strategy Group and Allied Trust Asset Management, aims to enable Africans to take ownership and leadership roles in the continent’s vast mining sector, long dominated by foreign interests.
Speaking during the launch, the managing director of the Africans for Africa Initiative, Tim Tokun delivered a striking address that called into question longstanding global narratives about material consumption. He pointed out that contrary to the belief that the global North is consuming “less for more,” global resource extraction is rising rapidly. He noted that in 2021 alone, more materials were extracted from the earth than were mined in all human history until 1950.
“This shows that mining is not obsolete – it remains the engine of civilisation,” Tokun said. “And Africa, which holds 35 percent of the world’s mineral resources, must no longer be satisfied with collecting mere resource rent. We must secure mineral sovereignty.”
For decades, African communities have seen little benefit from the extraction of their natural wealth, often receiving only minimal returns in the form of rents and royalties. The AfA Fund is designed to change that narrative by helping Africans achieve three key goals: generate wealth from their resources, gain parity with foreign mining firms, and uplift host communities, who Tokun described as the “indigenous landlords” holding the social license to operate.
He added that true sovereignty must extend beyond symbols like flags or football teams to include energy sovereignty and mineral sovereignty.
With the global shift to renewable energy, demand has intensified for critical minerals such as cobalt, graphite, lithium and manganese – minerals abundant across Africa. These so-called “unsexy” metals, once overlooked in favour of gold and diamonds, have become indispensable to battery production and green technology, placing Africa in a strategic position.
Co-founder of the Africans for Africa Initiative, Suleiman Zakari, described the AfA Fund as a direct response to the looming $2.1 trillion financing gap in the global mining sector. Citing the International Energy Agency’s projections, he noted that 61 new copper mines and 52 new lithium mines would be required by 2050 to support the global energy transition.
“The AfA Fund is our African answer to this crisis of capital,” Zakari said. “This is about unlocking African money for African resources.”
The launch marked the culmination of nearly a year of planning, dating back to commitments made during AFNIS 2024. Between July and October of that year, the Initiative laid its groundwork in two major components: a professional pan-African community and a specialist investment fund.
The AfA Initiative Community brings together experts, entrepreneurs, and rising professionals in the natural resources sector. The platform is designed to strengthen African participation across the mining value chain through mentorship, capacity building and knowledge-sharing.
The AfA Investment Fund, on the other hand, adopts a hybrid structure that draws capital from both retail and institutional investors. Targeting the continent’s 1.2 billion people – and the 400 million-strong diaspora – it offers ordinary Africans an opportunity to directly invest in Africa’s mineral development.
By early 2025, the Initiative had completed a digital platform and crafted a detailed outreach strategy. A high-level advisory board was also assembled, comprising prominent figures in the mining and finance sectors. Notable members include CEO of Thor Explorations Plc, Segun Lawson; Senior director at the Africa Finance Corporation, Osam Iyahen; former UK Chancellor of the Exchequer, Rt. Hon. Kwasi Kwarteng; MD of Thomro Investments in Zambia, Prof. Thomson Sinkala; CEO of Consolidated Copper Corporation in Sierra Leone, John Sisay; President of the Association of Women and Mining in Africa, Zenzi Awases and the director at Rio Tinto South Africa, Thabile Makgala.
Since March 2025, the AfA Fund has focused on capital mobilisation, engaging 10 institutional partners in advanced funding negotiations. The Initiative expects to secure an initial $50 million within 90 days of launch, with plans to deploy the capital into a carefully selected pipeline of early-stage, high-potential mining projects that prioritise local ownership and impact.
The first fund is expected to close at $100 million, supporting between five and seven investments in its first year. A second fund of $150 million is projected within two years, bringing the total to $250 million.
“This is just warming up,” Zakari said.
The official launch, held on July 17, 2025, during AFNIS 2025, is being hailed as a watershed moment. It marks not only the debut of a pioneering African-owned mining investment vehicle but also the emergence of a long-term platform dedicated to economic transformation through ownership, participation and community development.
“Our vision is simple but powerful,” Tokun said at the close of the event. “Africans must build Africa – not just in word, but in capital, in capacity, and in community.”
