Africa Finance Corporation (AFC) plans to launch a dedicated mineral exploration investment company within the next 12 months to address the continent’s exploration funding gap, boost domestic production and strengthen control over mineral resources.

Speaking at African Mining Week in Cape Town, Franklin Edochie, Deputy Director and Head of the Metals and Mining Desk at AFC, said the initiative would support the discovery of new reserves and advance local value addition.

“If we don’t invest in African exploration, we risk losing control over where our resources end up,” he emphasized. “Investing in exploration is one of our primary targets because local value-addition strategies depend on discovering and defining new reserves.”

Edochie said continent-led financing would help ensure exploration projects align with Africa’s long-term economic priorities. AFC also plans to expand investments in regional ports and power corridors to support industrial centres, including the Copperbelt.

“We want to expand our investments in regional ports and power corridors to ensure major industrial areas, such as the Copperbelt, are fully powered,” he added.

Meanwhile, the Democratic Republic of the Congo (DRC) is advancing geological mapping to attract investment into its largely unexplored mineral resources.

Freddy Mwamba Kanyinku, Director General of the DRC’s Centre d’Expertise, d’Evaluation et de Certification (CEEC), said high-precision geological mapping has covered 19% of the country’s territory, while new survey equipment is improving resource assessments and investor access.

"Previously, to invest in the DRC, you had to go through Belgium first. That is no longer the case - investors can now come directly to us," Kanyinku stated.

He said the country’s limited exploration coverage presents significant opportunities for international investors.

"Eighty percent of our land remains unexplored. While we have secured partnerships with countries like the US, there is still immense opportunity for international investors across these uncharted mineral regions," reiterated Kanyinku. -OGN/TradeArabia News Service