L-R: Desmond Anyanwu, Programme Director, AFA; Archibald Troko, Platform Director AFA; Suleiman Zakari, Co-founder AFA; Tim Tokun Managing Director, AFA; Hassan Usman, Founder Allied Trust Asset Management; Gita Likibe and Rilwan Kukoyi, Allied Trust Asset Management during the 4th Edition of AFNIS 2025 which held from the 16th -17th July, 2025 at The Banquet Hall, Presidential Villa, Abuja.
A groundbreaking step toward African mineral sovereignty was unveiled at the 2025 African Natural Resources and Energy Investment Summit (AFNIS) in Abuja with the official launch of the Africans for Africa Fund (AfA Fund), a pioneering initiative aimed at transforming Africa’s role in the global mining sector from passive participant to principal stakeholder.
Unveiled on July 17, the AfA Fund is the product of a strategic collaboration between Core International, Motimosé Metals, Africa Minerals Strategy Group, and Allied Trust Asset Management. It is designed to place African capital, expertise, and ownership at the forefront of the continent’s vast and largely untapped mineral wealth.
Tim Tokun, Managing Director of the Africans for Africa Initiative, delivered a compelling keynote that set the tone for the fund’s ambition.
He debunked persistent myths of resource scarcity, revealing that in 2021 alone, more materials were extracted globally than the total mined between the dawn of humanity and 1950. With Africa home to 35% of the world’s mineral resources, Tokun argued that it is time for the continent to move from being a source of resource rents to becoming a global mining power in its own right.
“True sovereignty goes beyond flags and football—it means energy and mineral sovereignty,” Tokun declared.
The AfA Fund is structured to address a critical financing gap, an estimated $2.1 trillion shortfall in mining investments needed by 2050, according to co-founder Suleiman Zakari. Zakari noted that meeting future demands for essential energy-transition minerals such as copper, lithium, cobalt, and manganese would require at least 61 new copper mines and 52 lithium mines globally.
Three Pillars of the AfA Initiative
The AfA Initiative is driven by three core objectives:
1. Generate Wealth: Ensure a meaningful number of Africans benefit financially from their own resources.
2. Achieve Global Parity: Compete on equal footing with international mining giants.
3. Empower Local Communities: Directly uplift frontline communities who serve as custodians of the resources.
The initiative comprises two key components:
The AfA Initiative Community: A pan-African network of professionals, experts, and entrepreneurs in the natural resources sector aimed at fostering mentorship and collaboration.
The AfA Investment Fund: A hybrid, closed-end fund open to both institutional and retail investors—targeting 1.2 billion Africans and 400 million in the diaspora.
From mid-2024 through early 2025, the AfA team built the fund’s infrastructure, including a digital platform and marketing strategy, and convened an elite Advisory Board featuring industry leaders like Segun Lawson (Thor Explorations), Osam Iyahen (Africa Finance Corporation), and Rt. Hon. Kwasi Kwarteng (former UK Chancellor).
Strong Capital Backing
The AfA Fund has already entered advanced negotiations with ten institutional investors, with expectations to raise an initial $50 million within 90 days of launch. The first fund is projected to close at $100 million, backing up to seven mining ventures in its first year, with a second round aimed at $150 million.
The fund’s long-term vision is to become a $250 million platform—what its founders call “just the beginning” of a new financial blueprint for African-led development.
NASS Orders Customs to Implement 4% FOB, Halts Illegal Charges
The launch of the AfA Fund at AFNIS 2025 marks more than a financial milestone; it signals a shift in mindset and practice—placing African voices, expertise, and capital at the center of the continent’s mineral future.
As Tokun eloquently put it, “Africans building Africa—not just in word, but in capital, capacity, and community.”
Visit: https://afainitiative.org for more details.
About the Author
