Tanzania is emerging as an important hub for the mining of green energy transition minerals in East Africa, despite the government taxing the sector heavily.
Angola – the world's second-biggest diamond producer – possesses abundant reserves of critical minerals, vital for the green energy transition.
Currently, Rosatom controls approximately 70% of the world export market for the construction of nuclear power plants where emerging powers in the global south are trying to boost their energy production and turning to Moscow for nuclear power.
The battle of the corridors is heating up as India promotes a new India-Middle East-Europe Economic Corridor (IMEC) route that will connect the subcontinent with Europe by traversing the Middle East over land then sea to the EU via Haifa in Israel.
Emerging markets will overtake the Western world in terms of the collective nominal size of their economies by 2050, with China and India as the second and third largest behind the US, according to Capital Economics’ long-term forecasts.
Zimbabwe has Africa’s biggest lithium deposits but China is acquiring many of the mines and a question mark hangs over the extent to which the local population will benefit from the mineral wealth.
Middle Eastern investment into Africa is becoming one of the most important sources of new capital, with projects valued at more than $53bn announced in 2023.