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From Charity Nwakaudu, Abuja
The African Extractive Minerals Development Bank (AEMBank) has pledged to ensure that Africa’s mineral wealth remains on the continent, driving local prosperity and industrial growth.
Speaking at a high-profile investment event in London, Mr. Chris Frampton, a member of AEMBank’s Board, declared that “the days of shipping out Africa’s mineral riches only to buy them back at high prices are over.”
With more than $3 trillion worth of minerals beneath African soil, Frampton emphasized that it is time to turn the continent’s natural resources into “jobs, industries, and real prosperity.”
“AEMBank reflects a new era of partnership between Africa and global capital — one built on sustainability, value creation, and long-term transformation,”
The London event drew a strong turnout from investors across Europe, the Middle East, and Africa, signalling growing confidence in AEMBank’s clean and responsible investment model. Discussions focused on how global capital can support Africa’s industrial rise without stripping its resources bare.
AEMBank criticized the old “pit-to-port” model that has long defined African resource exports — where raw materials are shipped overseas with little local benefit. Instead, the Bank is investing in mining, processing, logistics, and trade infrastructure, aiming to keep value creation within the continent.
With its headquarters in Nigeria, AEMBank is already driving initiatives that help African nations harness their mineral wealth to support industrialization and the global energy transition.
Backing AEMBank’s mission is the African Minerals Strategy Group (AMSG) a coalition of mineral-rich nations chaired by Nigeria — promoting a vision of African ownership and self-determination in resource development.
Buoyed by the success of the London event, AEMBank announced plans to continue engaging with investors to unlock new funding streams and forge strategic partnerships for Africa’s mineral-driven future.
