The African Federation of Miners and Mineral Wealth has resolved to establish its own investment company in a bold move to ensure that Africa’s mineral resources directly benefit its people.
This groundbreaking resolution was made during the Federation’s second executive board meeting held in Lusaka, Zambia.
The initiative marks a major shift in the way mining unions across the continent intend to participate in and influence the development of Africa’s natural resource sector.
By pooling resources and leveraging a crowdfunding model, the Federation aims to acquire and develop mining ventures that are owned and controlled by Africans.
General Secretary of the Ghana Mine Workers’ Union, Abdul-Moomin Gbana emphasized that workers who form the backbone of the mining industry must have a bigger stake in the wealth they help produce.
“We are the workers. Government can put together the policies, but it takes us to produce the gold, the manganese, the bauxite, the lithium. It takes workers to do that,” he said.
He added that after extensive consultations since 2023, the Federation is convinced that a united front of African mining workers is well-positioned to take charge of the continent’s mineral wealth.
“We have come to a stage where we are convinced by all the engagements we’ve had that if we pull our resources together through a crowdfunding logic, we can set up an investment company. This company will be in a good position to acquire and develop mining companies solely for the benefit of Africa and its people,” he stated.
The proposed investment company is expected to serve as a vehicle for worker-led ownership and economic empowerment, offering a new model of participation beyond labour to include equity and decision-making in Africa’s extractive industries.
“This is not just about workers getting better wages; it’s about ownership, it’s about value creation, and it’s about ensuring that Africa’s resources are used to benefit Africans first,” he concluded.
The Federation’s move has been hailed by observers as a significant step towards economic self-determination and inclusive growth within Africa’s mining sector.
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