Theheraldghana iconTheheraldghanaSep 17, 2026 ~2 min source read

Afreximbank urges Africa to stop exporting raw materials and keep more value on the continent

Afreximbank says industrialisation must move from raw exports to local processing and linked infrastructure, and it is mobilising finance and Diaspora channels to support that shift.

Afreximbank: Africa must stop exporting raw materials and retain more value

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The bank highlights infrastructure gaps — power, transport, logistics, payment systems — as necessary investments to connect producers to markets.

Afreximbank provided major financing for the Dangote Refinery: it underwrote $2.5 billion of a $4 billion syndicated loan and supplied a $1 billion working-capital facility.

The bank’s Global Africa Strategy aims to mobilise Diaspora capital, expertise and networks via initiatives such as the Global Africa Gateway, the Caribbean Initiative and CANEX.

The useful part

The Herald ghana --> SHARE The African Export-Import Bank (Afreximbank) has called on African countries to produce and process more of their raw materials locally to retain greater value and create jobs on the continent. Mr Gondwe made the remarks on behalf of Afreximbank President and Chairman of the Board of Directors, Dr George Elombi, during the 2026 YGL Convening of the ADF Africa–Diaspora Leadership Programme in Lagos. Speaking during a visit to the 650,000-barrel-per-day Dangote Refinery, Mr Gondwe cited the facility as evidence of Africa's capacity to develop industries on a global scale.

How it works

  • Afreximbank supported the refinery's development by underwriting US$2.5 billion of a US$4 billion syndicated loan and providing a US$1 billion working-capital facility.
  • He also highlighted the role of the African Diaspora in supporting industrialisation, saying Afreximbank's Global Africa Strategy was designed to mobilise Diaspora capital, expertise and networks for...
  • The objective, he said, is to channel more Diaspora resources into productive investment and connect African businesses to the capital, skills and markets required to grow.
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Example or evidence

  • The bank's Director of Intra-African Trade and Export Development (Creatives and Diaspora), Temwa Gondwe, said Africa's industrialisation must move beyond the export of raw materials towards producing...

Details worth keeping

Africa must stop exporting raw materials and retain more value. Through initiatives including the Global Africa Gateway, the Caribbean Initiative and CANEX, the bank is seeking to create avenues for investment, market access, knowledge exchange and enterprise development across the global African community.

Related coverage

  • Allafrica: [allAfrica] Africa's industrial moment is not waiting for more money.
  • Tori: Islamic cleric Ahmad Gumi wants Nigeria to stop sending raw materials abroad and instead process them at home.
  • Miningnewszambia: The minerals powering the global industrial race are abundant across SADC, yet much of the region's economic value still leaves with the ore.
  • Aljazeera: The move is part of a broader effort to develop Ghana's gold industry beyond raw exports.

More context around this story.

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SADC Told To Turn Quarry Economies Into Factories

The minerals powering the global industrial race are abundant across SADC, yet much of the region’s economic value still leaves with the ore. From copper and lithium to platinum, cobalt, chrome and manganese, a resource advantage that should be feeding factories, supply chains and high-value industries remains heavily

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