Former MIIF CEO Edward Nana Yaw Koranteng
Former Minerals Income Investment Fund (MIIF) CEO Edward Nana Yaw Koranteng has said that Africa’s untapped critical minerals could position the continent as a key alternative supply hub amid growing geopolitical rivalry between the United States and China.
Describing critical minerals as the “currency of the future”, Mr. Koranteng noted that demand for resources like lithium, cobalt, graphite, and copper is projected to surge by over 500% in the next 25 years, driven by the global energy transition, technology, and security needs.
“Critical minerals are at the heart of the new industrial revolution. They will shape policies and determine the direction of global capital,” he said.
He cited the EU Critical Raw Materials Act, the US Inflation Reduction Act, and China’s export restrictions as examples of policies reshaping global supply chains, arguing that Africa must position itself strategically within this context.
Countries such as Ghana, Zimbabwe, Angola, Nigeria, and Guinea, he said, hold vast deposits of lithium, manganese, bauxite, cobalt, and nickel—resources that could transform their economies if properly developed.
“The geopolitical tension between China and the West makes Africa an attractive alternative. What we need are transparent frameworks, value addition policies, and investment in processing capacity,” Mr. Koranteng stated.
He added that initiatives such as MIIF’s investment in Atlantic Lithium and Ghana’s efforts to integrate ESG principles into mining governance are steps in the right direction toward sustainable mineral wealth creation.
