Africa Finance Corporation to launch mineral exploration fund

The Africa Finance Corporation (AFC) has announced plans to launch a dedicated exploration development investment company within the next 12 months. The initiative aims to address the widening funding gap for mineral exploration in Africa, boost domestic production, and secure mineral sovereignty for the continent.

Franklin Edochie, AFC’s Deputy Director and Head of the Metals and Mining Desk, stated that continent-led exploration is essential to insulate Africa from global geopolitical pressures. The corporation is also looking to expand its mining portfolio beyond gold, bauxite, copper, and manganese to include iron ore and uranium.

In addition to upstream discovery, the AFC is scaling infrastructure commitments in regional ports and power corridors, specifically targeting industrial areas like the Copperbelt. Meanwhile, the Democratic Republic of the Congo is advancing its national geological mapping program to modernize how investors access its resources.