Africa’s 30% critical minerals vital for AI, energy boom – IMF

Africa possesses a 30 percent share of global critical mineral reserves, positioning the continent to capitalize on the growing demand for artificial intelligence (AI) infrastructure and clean energy technologies, according to the International Monetary Fund (IMF). The IMF highlighted the potential for African countries to accelerate growth by adopting and scaling AI, mobilizing domestic savings, and implementing reforms to enhance their business environment and attract investment.

IMF Director of the African Department, Mr. Zeine Zeidane, emphasized this point during a briefing on the October 2026 Regional Economic Outlook Update for Sub-Saharan Africa in Bangkok. He stated that African countries exporting critical minerals stand to benefit from the energy transition, the energy requirements of AI, and the technology itself. Mr. Zeidane noted that AI could enhance productivity in sectors such as agriculture, education, healthcare, and government services, thereby helping to bridge efficiency gaps.

The report estimates that scaling AI across Africa could increase economic growth by over four percentage points within a decade. Furthermore, addressing half of the continent's governance and business environment gaps could boost Gross Domestic Product (GDP) by more than 20 percent over a decade. However, Mr. Zeidane cautioned that mineral wealth alone would not ensure prosperity without reforms to mobilize capital and improve the investment climate.

He called for stronger mobilization of domestic savings and their allocation into productive sectors to foster investment and job creation.