As part of efforts to develop Africa’s mineral industry, Economist and Political Risk Analysts, Dr. Theo Acheampong, is advocating that African governments must turn geopolitical rivalry into financial leverage.
The economist made this case at the high-level conversations at Mining Indaba 2026 in Cape Town, South Africa.
As global powers scramble for critical minerals essential to electric vehicles, renewable energy, and advanced technologies, Acheampong argues that African governments are sitting on rare negotiating power.
The key, he says, is to use “competing courtships” wisely.
The European Union, the United States, Gulf countries, and China are all actively courting African mineral producers. According to Acheampong, this competition should not be reduced to symbolic memoranda of understanding.
Instead, it should be converted into tangible gains. He emphasizes that Africa must move beyond just signing MoUs.
The focus, Dr. Theo Acheampong says, should be on securing capital for infrastructure co-financing and meaningful technology and skills transfer.
This means using mineral access as bargaining power to secure funding to finance infrastructure such as rail lines to mining zones, reliable power plants, processing facilities, and technical training programmes.
For Dr. Acheampong, such effective means of funding will ensure mineral deals finance broader economic transformation, not just extraction.
“African must use competing courtships (EU/US/Gulf Countries/China/others) to secure capital for infrastructure co-finance, and technology/skills transfer. This moves beyond just signing MoUs,” he noted.
The economist also underscored a growing trend of regional collaboration.
Some African countries and regional blocs are exploring joint ventures, shared infrastructure corridors, and integrated value chains to industrialise resources collectively rather than individually.
He stated, “Some African countries are already leveraging the growing momentum for regional cooperation: countries and regional blocs are exploring joint ventures, shared infrastructure, and integrated value chains to industrialise resources collectively.”
Global demand for critical minerals is rising sharply due to the energy transition and digital technologies. For experts, this demand gives mineral-rich African states bargaining power they have not enjoyed in decades.
If managed strategically, competing courtships could finance the very roads, power systems, and industrial bases Africa has long struggled to build.
However, if mismanaged, the continent risks repeating the history of exporting raw materials while importing finished goods.
