Africa’s resource future : harnessing natural resources for economic transformation during the low-carbon transition
In this time of global upheaval and a rapidly changing climate, the economies of Sub-Saharan Africa stand to benefit from vast endowments in natural resources and the transition to a low-carbon economy. Global efforts to decarbonize economies are likely to create demand for 3 million tons of minerals and metals needed to deploy solar, wind, and geothermal energy by 2050. Many of these minerals are founds in abundance across Africa. Africa’s diverse metal and mineral deposits, such as cobalt, copper, lithium, manganese, and platinum, also play an important role in batteries and electronics. The World Bank has been a trusted partner for African countries embarking in the energy transition, supporting them with increased financing committed to renewable energy projects and timely advice on reconciling climate and development goals across economic sectors.