Luanda: African Governments must outline joint policies and projects to enhance the production value chain and obtain better partnerships with investors within the framework of 'win-win' cooperation, with a view to avoiding the export of raw materials and boosting the continental economy, according to African and European experts.
According to Angola Press News Agency, during the 8th African Union - European Union Business Forum, part of the Summit of the two continents, which concluded recently in Luanda, experts emphasized that Africa remains at a disadvantage compared to Europe due to the lack of harmonized policies and regional integration. This disadvantage is compounded by weak infrastructure capacity, particularly in energy, water, and roads, combined with border and customs constraints.
The experts highlighted that these issues lead to the export of large volumes of transition minerals to Europe, hindering Africa's technological, social, and economic development. Angolan Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, noted the high number of requests for mineral resource exploration, such as gold and quartz, reflecting strong interest. To address this, Angola restricted and, in some cases, prohibited exports, leading to the establishment of mineral processing factories.
Since the policy shift, Angola has seen the development of six quartz manufacturing units, nine diamond cutting units, a copper factory, and the anticipated opening of the country's first gold refinery. Additionally, the government has invested in the construction of four refineries to boost domestic production.
Minister Azevedo stressed that Africa must follow this path to stop exports and achieve mutual benefits through open negotiations, ensuring that financing effectively impacts citizens' lives. Nardos Bekele Thomas, director general of the African Union Development Agency - New Partnership for Africa's Development (AUDA-NEPAD), emphasized the need for Africa to establish competitive interdependence to counter European actions that view the continent merely as a source of raw materials.
Thomas asserted that African mineral resources should enhance the quality of life for natives by providing more water, energy, and job opportunities, along with knowledge transfer and technological innovation. He emphasized the importance of opening up to regional markets and the African Free Trade Area.
The European Union team pointed out that while the organization is investing in a conducive environment, African Governments must develop critical infrastructure for development, such as energy, water, and roads, to support the value chain. The European bloc believes that overcoming these constraints will enhance sectors like agribusiness, leading to tangible impacts on populations.
Pietro Toigo, representing the African Development Bank, stated that minerals should facilitate infrastructure development. He urged Governments to harmonize regional integration policies and pursue joint business ventures, such as the Lobito Corridor, to bolster economic growth.
