The African Export‑Import Bank’s (Afreximbank) development equity impact investment arm, the Fund for Export Development in Africa (FEDA), has announced a strategic $300 million investment in the Africa Minerals and Metals Processing Platform (A2MP). This commitment underscores Afreximbank’s dedication to supporting Africa’s mining sector and fostering sustainable economic growth.
A2MP is a diversified, pan‑African platform focused on mining and processing, with operations in nine countries and a robust pipeline that includes twelve mineral assets and four processing hubs. Its goal is to unlock and scale minerals and metals value chains sustainably across the continent, addressing the challenges posed by the depletion of high‑grade, easily accessible ore reserves. The new investment will enable A2MP to develop additional processing hubs for rare earths, battery precursors and other critical minerals, thereby strengthening value addition throughout Africa.
Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank and FEDA, said the investment aligns with the bank’s vision of transitioning Africa from raw‑material exports to a fully integrated system of mining and local manufacturing. Gagan Gupta, Founder of A2MP, described the funding as a pivotal moment for Africa’s industrial journey, allowing the platform to scale its fully integrated model of responsible extraction, processing and transformation. Marlene Ngoyi, CEO of FEDA, emphasized that the investment embodies the transformative financing needed to retain beneficiation and processing within the continent, in line with FEDA’s vision for Africa’s mining future.
Afreximbank has long been a key player in promoting intra‑African trade and industrialisation, with total assets and contingencies exceeding $40.1 billion and shareholder funds of $7.2 billion. The bank has launched initiatives such as the Pan‑African Payment and Settlement System (PAPSS) and a $10 billion Adjustment Fund to support countries participating in the African Continental Free Trade Agreement (AfCFTA).
The investment in A2MP is expected to have a significant impact on Africa’s mining sector, promoting sustainable economic growth and industrialisation. With the backing of FEDA and Afreximbank, A2MP is poised to become a leading player in the continent’s mining and processing industry, creating thousands of jobs and delivering lasting benefits for communities. This partnership reinforces Afreximbank’s commitment to supporting Africa’s economic development and enhancing intra‑African trade.
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