Africa could triple its share of global lithium production within the next five years as rising demand for electric vehicles, energy storage systems and AI-linked data centers accelerates investment in battery minerals, according to a new report by African Export-Import Bank (Afreximbank).
The trade lender said the continent may account for as much as 15% of global lithium production by the early 2030s, up from about 4% in 2023, positioning Africa as the world’s fastest-growing lithium-producing region.
The projection highlights intensifying global competition for supplies of the metal used in rechargeable batteries as countries and companies race to secure critical minerals needed for the energy transition and expanding artificial intelligence infrastructure.
“Africa has rapidly emerged as the fastest-growing producing region globally,” Afreximbank said in its latest commodity bulletin, adding that the lender was increasing support for strategic minerals processing and integrated industrial value chains.
The report said African economies are increasingly seeking to move beyond exporting raw lithium ore toward domestic refining, battery manufacturing and other higher-value industrial activities tied to the clean-energy supply chain.
“For example, transforming lithium resources from countries such as the Democratic Republic of Congo into batteries and related clean-energy technologies, will help to position Africa as a hub for green industrialisation and high-skilled job creation,” the bank said.
Resource-rich countries across the continent, including Ghana Zimbabwe, Namibia, and Democratic Republic of Congo, have tightened controls on raw mineral exports in recent years as governments attempt to capture more value from global commodity demand.
Lithium remained the world’s top-performing commodity year-to-date despite recent price declines caused by recovering supply, the report said.
Afreximbank attributed the longer-term strength in lithium markets to sustained growth in electric vehicle sales and rapidly expanding demand for stationary energy storage systems used to stabilize renewable energy grids and support AI-driven data centers.
The bank said supply growth remained constrained by years of underinvestment during the lithium market downturn between 2022 and 2025, as well as structural challenges including declining ore grades, rising energy costs, water shortages and permitting delays.
Geopolitical tensions and resource nationalism are also tightening global supply availability as countries impose export restrictions and battery manufacturers build strategic stockpiles, according to the report.
Critical minerals continue to be central to industrial policy and broader economic transformation plans under the African Continental Free Trade Area framework, which aims to expand regional manufacturing and cross-border trade.
