Alake Re-elected AMSG Chairman, Calls for Smart Financing of Africa’s Mineral Corridors
Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, has been re-elected Chairman of the Africa Minerals Strategy Group (AMSG), warning that Africa’s real challenge is not the absence of mineral corridors but the lack of sustainable financing, governance and structures to drive industrial growth, regional integration and long-term stability.
Dr. Alake made the assertion at the 2026 Annual General Meeting (AGM) of the continental ministerial forum of African ministers responsible for minerals and mining, held on the sidelines of the Future Minerals Forum (FMF) in Riyadh, Saudi Arabia. The forum reaffirmed its commitment to coordinated continental action aimed at maximising value addition and beneficiation from Africa’s vast mineral resources.
“The real question is not whether Africa has corridors, but whether these corridors are being financed, governed, and structured to support industrial growth, regional integration, and long-term stability,” Alake said, stressing that what matters is how financing is designed to reduce risk, attract private capital and sustain commercial viability while advancing national and regional development objectives.
Alake was first unanimously elected as the pioneer Chairman of the AMSG in 2024 and was returned unopposed by the 24-member forum at the 2026 AGM. As part of efforts to strengthen its institutional framework, the AMSG approved the creation of additional leadership positions, including Vice-Chairman, Deputy Secretary-General and Financial Secretary, with a resolution that the roles be equitably distributed across Africa’s sub-regions to promote inclusion and regional balance.
Under the new leadership structure, Nigeria retains the Chairmanship representing West Africa, while the Minister of Mines of the Democratic Republic of Congo (DRC), Hon. Louis Watum Kabamba, was elected Vice-Chairman for Central Africa. Uganda continues as Secretary-General representing East Africa, Mauritania was appointed Deputy Secretary-General for North Africa, and South Africa was zoned the position of Financial Secretary.
The AGM also ratified a two-year tenure for the newly elected executive committee and agreed that zoned positions belong to member countries, such that when a serving minister is replaced, the successor automatically assumes the role.
In his acceptance speech, Alake thanked his colleagues for the renewed confidence and urged African nations to deepen collaboration to unlock the continent’s economic potential through solid minerals development. He called on member states to agree on minimum financial contributions and refine the group’s budgeting framework to enhance operational effectiveness.
“Once member states contribute, accountability will naturally follow. This will enhance transparency and strengthen the credibility of the AMSG before the global community,” he said.
The forum further resolved to hold quarterly ministerial meetings and approved the establishment of standing committees on Legal, Institutional Affairs and Human Resources; Sustainability and Responsible Mining; and Finance, Budget and Resource Mobilisation, among others. Members also agreed to take steps towards hosting a global minerals conference in Africa, similar to the FMF.
Earlier, at a Leadership Roundtable themed “Africa: Unlocking Infrastructure Funding for Copper-Belt Production”, Alake noted that mineral production alone cannot deliver lasting economic transformation without reliable infrastructure, coordinated policies and deliberate value-addition strategies. He cited the Lobito Corridor as a successful model of synergy between rail, ports, energy systems and policy alignment, and pointed to similar opportunities across the continent, including the Lagos–Abidjan Corridor in West Africa, the Walvis Bay Corridor in Southern Africa, and the Dar es Salaam and Central Corridors serving East and Central Africa.
READ ALSO: HEDA Drags Seyi Makinde to EFCC Over Alleged Diversion of ₦30bn Ibadan Explosion Intervention Funds
He emphasised that unlocking capital at scale requires bankable offtake arrangements, predictable and harmonised cross-border regulations, alignment of rail, port, power and industrial planning, and clear pathways for processing, smelting, logistics services and industrial clusters along mineral corridors.
According to him, the broader vision of the AMSG is to ensure that Africa’s mineral infrastructure is strategically designed, responsibly financed and efficiently managed in a rapidly evolving global environment to promote transparency, stability and shared economic prosperity.
About The Author
