Business
Forging a Continental Future: Nigeria and South Africa Unite to Unlock Africa’s Mineral Wealth
Forging a Continental Future: Nigeria and South Africa Unite to Unlock Africa’s Mineral Wealth
By George O. Sylvester, Reporting from South Africa
CAPE TOWN, April 17, 2025 – In a landmark move aimed at reshaping Africa’s economic future, Nigeria and South Africa signed a historic Memorandum of Understanding (MoU) to collaborate in the solid minerals sector. The agreement, reached during the 11th session of the Nigeria-South Africa Bi-National Commission (BNC), represents a strategic alliance focused on harnessing Africa’s vast mineral wealth for mutual benefit and sustainable development.
The deal marks a bold shift towards intra-African cooperation, at a time when global competition for mineral resources—especially critical minerals for green technologies—is intensifying. With the African Continental Free Trade Area (AfCFTA) now operational, this bilateral partnership lays the groundwork for a new continental approach to resource governance and economic diversification.
A Tale of Two Giants
Nigeria, long regarded as a mono-economy reliant on oil (which accounts for over 85% of its export revenue), has begun to prioritize the mining sector as a vehicle for economic diversification. According to the Nigerian Extractive Industries Transparency Initiative (NEITI), the country’s solid minerals sector contributed a mere 0.63% to GDP as of 2022, despite holding an estimated $700 billion in untapped mineral reserves including gold, lithium, columbite, iron ore, and uranium.
In contrast, South Africa’s mining sector, which contributed approximately 7.5% to GDP in 2023 (StatsSA), is globally renowned for its depth, technological sophistication, and regulatory framework. With over 100 years of mining history, it boasts world-class infrastructure and expertise in areas such as deep-level mining, beneficiation, and environmental management.
The union of Nigeria’s raw potential and South Africa’s technical prowess could become a game-changer—not just for both economies but for Africa’s collective push toward industrialization and self-reliance.
Key Components of the MoU
1. Joint Geological Mapping
Using satellite imaging, geospatial technologies, and AI-powered mineral detection tools, both countries will collaborate on large-scale geological surveys. This effort is critical in Nigeria, where over 80% of the land remains geologically underexplored, according to the Nigerian Geological Survey Agency (NGSA).
2. Data Exchange and Transparency
A core pillar of the agreement is real-time data exchange between the NGSA and South Africa’s Council for Geoscience. This will enhance transparency, reduce investor risk, and improve planning. By adopting South Africa’s data management frameworks, Nigeria aims to move toward international best practices in resource classification and public disclosure.
3. Capacity Building and Technology Transfer
To reduce Nigeria’s dependence on foreign consultants, South Africa will assist in training geologists, metallurgists, and mining engineers through academic exchanges, short courses, and certification programs. Nigerian professionals will also be trained in advanced techniques such as Elemental Fingerprint Technology, which determines mineral origin—crucial for combatting illegal mining and smuggling.
4. Exploration of Agro and Energy Minerals
The MoU includes joint ventures in exploring agro-minerals like phosphate and potash (needed for local fertilizer production) and energy minerals like lithium and cobalt—essential components of electric vehicle batteries and clean energy storage systems. Nigeria’s nascent lithium reserves in Nasarawa and Ekiti states could prove critical as the world pivots toward decarbonization.
Economic Potential
According to PwC’s Nigeria Mining Sector Report, the solid minerals industry could contribute up to $27 billion annually to Nigeria’s GDP by 2030, if adequately developed. This partnership is expected to catalyze investment and attract global mining companies previously hesitant about Nigeria’s regulatory unpredictability.
Already, projections suggest the MoU could generate over $500 million in direct foreign investment during the first phase. Furthermore, the Nigerian Ministry of Solid Minerals forecasts the creation of 3 million jobs across the mining value chain—ranging from exploration and extraction to logistics and beneficiation.
For South Africa, this is a strategic economic expansion. With its traditional mining output slowing due to resource depletion and labor unrest, South Africa is seeking new avenues for growth. By investing in West Africa, it not only expands its mining footprint but deepens its diplomatic influence and commercial engagement with Africa’s largest economy.
Institutional Support and Structural Reforms
Nigeria’s reforms have not gone unnoticed. The introduction of the Electronic Mining Cadastral System (EMC+) has streamlined licensing and reduced corruption, enabling a transparent “first come, first served” process. In 2024 alone, over 1,500 mineral titles were processed electronically—a significant improvement from previous years marred by bureaucracy.
Moreover, the Nigeria Minerals Decision Support System (NMDSS) has made investor-relevant data—such as infrastructure availability, environmental regulations, and geoscience—accessible through a centralized portal. These tools are modeled after global standards, including Australia’s Geoscience Portal and South Africa’s SAMREC Code.
Diplomatic and Regional Impact
This partnership is more than a commercial endeavor; it is a diplomatic signal. Both countries, which combined account for over 30% of Africa’s GDP and nearly 300 million people, are demonstrating leadership in Pan-Africanism. The agreement comes at a time when Africa must assert control over its mineral wealth, especially with rising concerns over neocolonial extraction by foreign powers.
As Dr. Ngozi Okonjo-Iweala, Director-General of the WTO, noted in 2024:
“Africa cannot be the source of raw materials for global value chains without being part of those chains.”
The Nigeria-South Africa MoU embodies this vision. By focusing on value addition, local content development, and environmental sustainability, the partnership seeks to reverse the continent’s historical pattern of extractive exploitation.
A New African Vision
Underpinning this alliance is a deeper aspiration: a unified African response to global economic challenges. With AfCFTA aiming to boost intra-African trade by over 50% by 2030 (UNECA estimates), resource-rich countries must lead the charge. If this mining collaboration succeeds, it could set a precedent for other sectors—agriculture, energy, technology—where African synergies remain largely untapped.
It is also a message to African youth, millions of whom face unemployment despite living in the most resource-endowed continent on Earth. The partnership can create meaningful employment while fostering innovation, entrepreneurship, and skills development.
Conclusion
The Nigeria-South Africa mining partnership is not just a bilateral deal—it is a continental statement. It reflects a long-overdue shift in how African nations view their resources, their allies, and their future. By choosing cooperation over competition and value creation over mere extraction, both countries are redefining what African leadership means in the 21st century.
This agreement could well be remembered as a turning point—when two of Africa’s most influential nations chose not only to collaborate but to lead.
As the late Kofi Annan once said:
“Resources are not curses. Mismanagement is.”
This partnership offers Africa a rare opportunity to get it right.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
Business
BUA Group, AD Ports Group and MAIR Group Launch Strategic Plan for World-Class Sugar and Agro-Logistics Hub at Khalifa Port
BUA Group, AD Ports Group and MAIR Group Sign MoU to Explore Collaboration in Sugar Refining, Agro-Industrial Development, and Integrated Global Logistics Solutions
Abu Dhabi, UAE – Monday, 16th February 2026
BUA Group, AD Ports Group, and MAIR Group of Abu Dhabi today signed a strategic Memorandum of Understanding (MoU) to explore collaboration in sugar refining, agro-industrial development, and integrated global logistics solutions. The partnership aims to create a world-class platform that strengthens regional food security, supports industrial diversification, and reinforces Abu Dhabi’s position as a hub for trade and manufacturing.
The proposed collaboration will leverage BUA Group’s industrial and logistics expertise, Khalifa Port’s world-class infrastructure, and AD Ports Group’s operational experience. The initiative aligns with the objectives of the UAE Food Security Strategy 2051, which seeks to position the UAE as a global leader in sustainable food production and resilient supply chains. It also aligns with Nigeria’s food production- and export-oriented agricultural transformation agenda, focused on scaling domestic capacity, strengthening value addition, improving post-harvest logistics, and unlocking new markets for Nigerian produce across the Middle East, Asia, and beyond.
Photo Caption: L-R: Kabiru Rabiu, Group Executive Director, BUA Group; Cpt. Mohammed J. Al Shamisi, MD/Group CEO, AD Ports Group; Saif Al Mazrouei, CEO (Ports Cluster) AD Ports Group; Abdul Samad Rabiu, Founder/Executive Chairman, BUA Group; and Steve Green, Group CFO, MAIR Group
Through structured aggregation, processing, storage, and maritime export channels, the partnership is designed to reduce supply chain inefficiencies, enhance traceability and quality standards, and also create a predictable trade corridor between West Africa and the Gulf.
BUA Group—recognised as one of Africa’s largest and most diversified conglomerates, with major investments across sugar refining, food production, flour milling, cement manufacturing, and infrastructure- brings extensive industrial expertise and large-scale operational capability to the venture. MAIR Group will provide strategic support in developing integrated logistics and agro-industrial solutions, creating a seamless platform for production, storage, and distribution.
Abdul Samad Rabiu, Founder and Chairman of BUA Group, said:
“This MoU marks an important milestone in BUA’s international expansion and reflects our long-term vision of building globally competitive industrial platforms. Together with AD Ports Group and MAIR Group, we aim to develop sustainable food production and logistics solutions that strengthen regional supply chains and support the UAE’s Food Security Strategy 2051.”
He further added that, “This partnership represents not just a commercial arrangement but a strategic food corridor anchored on shared economic ambition, resilient infrastructure, and disciplined execution, reinforcing long-term food security objectives for both nations.”
A representative of MAIR Group added:
“This collaboration underscores our commitment to advancing strategic industries in Abu Dhabi and building integrated solutions that reinforce the UAE’s position as a global hub for trade, food security, and industrial excellence.”
A spokesperson from AD Ports Group commented:
“Our partnership with BUA Group and MAIR Group highlights Khalifa Port’s role as a catalyst for high-impact industrial investments. This initiative will enhance regional food security, strengthen global trade connectivity, and support Abu Dhabi’s economic diversification goals.”
This MoU marks a historic collaboration that combines world-class infrastructure, industrial expertise, and strategic vision, setting the stage for a sustainable and resilient food and logistics ecosystem that will benefit the UAE, the region, and global markets alike.
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