At the forefront of this green industrial revolution is critical minerals beneficiation. Africa holds approximately 30% of the world’s mineral reserves, including vast deposits of critical minerals like cobalt, lithium, manganese, graphite, copper and platinum-group metals – essential for electric vehicles, renewable energy systems and energy storage solutions. Immense opportunity lies in moving beyond raw material extraction to value addition and beneficiation at source. This means investing in sophisticated processing plants and even integrated manufacturing facilities for battery components, or electric vehicle parts, directly within Africa. The African Union’s “African Green Minerals Strategy” explicitly highlights this potential, aiming to position Africa as a global hub for critical mineral processing, transforming its mineral wealth into genuine industrial power. For example, the Democratic Republic of Congo (DRC) and Zambia are already exploring alliances to develop regional battery manufacturing capabilities.

Another cornerstone of Africa’s green future is renewable energy generation. The continent possesses immense untapped potential in solar, wind and hydropower, boasting some of the best solar irradiation and wind resources globally. Investment opportunities span large-scale utility projects, which can feed into national and regional grids, as well as distributed generation solutions like rooftop solar for commercial and industrial users, and innovative off-grid solutions crucial for electrifying rural communities. The demand for clean energy is rising rapidly across Africa, driven by industrialisation needs, population growth and persistent energy access deficits. Countries like South Africa, through the recent adoption of the South Africa Renewable Energy Master Plan (SAREMP) and Namibia, through the adoption of its Namibia Green Industrialisation Blueprint are actively working towards further localisation of renewable energy manufacturing, creating additional opportunities for component production and assembly. Public-private partnerships (PPP) are crucial for financing and developing these large-scale renewable energy projects, particularly those designed to integrate into a future interconnected continental grid under the African Continental Free Trade Area.

Africa is also rapidly emerging as a potential global leader in green hydrogen production. Leveraging its abundant and low-cost renewable energy resources, countries like Namibia, South Africa, Morocco and Egypt have launched ambitious green hydrogen projects aimed at both domestic consumption and export to decarbonise heavy industries in Europe and Asia. Investment opportunities exist in the entire green hydrogen value chain, from electrolysis plants powered by vast renewable energy farms to critical infrastructure for storage and transport, such as pipelines and port facilities for green ammonia, e-methonal or liquid hydrogen. PPPs are essential for developing the significant infrastructure required for a green hydrogen economy.

Beyond raw materials and energy, there are substantial prospects in green manufacturing and the circular economy. Africa can establish itself as a hub for the production of components for renewable energy technologies, electric vehicles and other sustainable goods. The continent’s growing population and expanding consumer base provide a ready and increasingly affluent market for such products. Furthermore, there are significant opportunities in the circular economy, focusing on innovative waste management solutions, recycling and remanufacturing. This can include converting waste-to-energy, recycling e-waste for critical mineral recovery, and developing circular microgrids that maximise resource efficiency. Initiatives like the African Development Bank’s Africa Circular Economy Facility are supporting countries in developing national roadmaps and attracting investment into these high-potential areas.

Lastly, sustainable agriculture and the bio-economy offer crucial avenues for green investment. Investing in sustainable agricultural practices, such as precision farming and drought-resistant crops, can not only enhance food security for the continent but also significantly contribute to climate resilience and carbon sequestration. Opportunities also exist in the broader bio-economy, including the sustainable production of biofuels, bio-based chemicals and advanced biomaterials, leveraging Africa’s vast biodiversity and agricultural resources.

These diverse opportunities highlight Africa’s strategic importance in the global shift towards a green economy. However, realising this potential requires not only robust investment but also a clear understanding of the legal and regulatory landscape that governs these projects.