Leading industry figures in a thought-provoking virtual session have emphasised the urgent need for innovative financial instruments to bridge the funding gap in early-stage mining in Africa.
The session which was hosted during the African Development Bank’s Annual Meetings 2025 had key submissions on domestic financing among other themes.
Tim Tokun, Managing Partner of Motimose Metals, reflected on his extensive career in mining and resource development across four continents, saying, “From greenfield exploration to sustainable production, the African funding model remains largely inadequate for junior miners and indigenous firms.”
Panelist Adeniran Aderogba, President of the Regional Maritime Development Bank, agreed, pointing to structural misalignments: “The deposit profile of most of the banks in Sub-Saharan Africa is at the short end of the yield curve. So they’re not able to grow long-term lending… which is essential if you’re talking about mining and exploration.”
CORE International, organisers of the African Natural Resources and Energy Investment Summit (AFNIS), said the virtual pivot of the forum—originally meant to take place at the Sofitel Aju Hotel—did not diminish its impact.
“We’re thrilled to bring you today a very important discussion,” the moderator declared. “Africa’s vast mineral wealth presents a significant opportunity for transformation. Yet, a critical barrier is the limited access to domestic capital, especially in early-stage development.”
Aderogba further called for a broader mindset shift: “Domestic appetite is geared towards little or zero risk. If this does not change, many of the minerals essential to Africa’s green transition will remain buried while the continent continues to import finished products.”
Stephen Ross of Desert Metals added that, “African miners often sit on excellent projects, but they struggle to move from exploration to feasibility due to the complete absence of early-stage risk capital.” The panel concluded with a consensus that aligning financial regulations with project realities, supporting structured finance mechanisms, and leveraging blended capital are necessary to unlock Africa’s vast mining future
