Kenya and Nigeria Shift Focus to Value Addition in Mining Sector
Kenya is restructuring its mining sector to prioritize local processing over raw exports, aiming to boost economic contributions from mineral resources. Nigeria has announced that mining licenses will only be granted to investors committing to local value addition, highlighting a broader trend in Africa toward enhanced mineral processing and industrialization.
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Kenya aims to enhance value addition in its mineral sector, moving away from reliance on raw exports, which have historically contributed less than one percent to GDP. President William Ruto announced reforms to capture more economic value, including the establishment of the National Mining Corporation and clearer licensing frameworks.
The International Energy Agency predicts demand for critical minerals will triple by 2030. Meanwhile, Nigeria's Minister of Solid Minerals Development stated that licenses will only be granted to those ensuring local processing, aiming to break the cycle of exporting unprocessed minerals. This shift reflects a growing continental trend towards retaining more value from natural resources, potentially positioning both countries as key players in global supply chains.
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