African Mining Week 2026 to Highlight Domestic Financing Opportunities as African Sovereign Wealth Funds Reach $164 Billion

SWFs are no longer passive investors but are increasingly positioning themselves as active partners in mining development, with countries scaling up SWF participation to reduce reliance on external financing, accelerate exploration, enable local beneficiation and integrate artisanal and small-scale mining into formal value chains.

One of the clearest examples of this shift is in East Africa. Ethiopian Investment Holdings – with assets exceeding $45 billion – is playing a central role in advancing mining-led industrialization. In 2026, the fund signed an agreement with the country’s Ministry of Mines to invest in potash development, targeting fertilizer production amid rising global demand. It is also partnering with RUSAL on a $1 billion aluminum smelter, anchoring downstream beneficiation capacity.

Similar case studies are being seen in West Africa. In Senegal, FONSIS is co-investing in the country’s first gold refinery alongside Société des Mines du Sénégal – a move aimed at strengthening local value addition while integrating artisanal miners into formal supply chains. Guinea also plans to launch a sovereign wealth fund in 2026, leveraging revenues from the $20 billion Simandou iron ore project and signaling a strategic shift toward reinvesting resource wealth into long-term national development.

Meanwhile, Angola’s Fundo Soberano de Angola is backing economic diversification through mining investments, including equity participation in Pensana’s Longonjo rare earth project – expected to supply up to 5% of global magnet metals once operational.