The 3rd African Natural Resources and Energy Investment Summit 2024 concluded in Abuja with the launch of the “Africans for Africa” initiative, a program designed to ensure that Africa takes responsibility for its own development.
Secretary General of the Africa Minerals Strategy Group, Moses Engadu, coordinated the signing of the initiative. He described it as a collective effort where member countries provide solutions for the continent’s growth.
Mr. Engadu highlighted that ownership of resources has been a persistent challenge among African countries. The new initiative aims to address this issue by fostering a sense of shared ownership and responsibility.
A key component of the agreement is for each African country to contribute a specified amount to a fund powered by blockchain technology, which will be used to tackle pressing issues.
“Ownership has been a challenge on the continent, along with the pooling of resources. Many Africans in the diaspora want to give back or invest but don’t know where to start. This initiative will be subscription-based, powered by blockchain technology. Subscribers will have access to projects in different countries and can choose to finance them,” Mr. Engadu explained. “For example, you can finance a mining institute in Uganda with contributions of any amount. The funds collected through subscriptions are dedicated to projects, not for consumption.”
Minister of Solid Minerals Development, Dr. Dele Alake, hailed the initiative as a historic moment for Africa, instilling confidence in the continent’s ability to manage its resources.
The Permanent Secretary, represented by the Director General of the Mining Cadastral Office, Mr. Obadia Nkom, expressed gratitude for the collective contributions of participants, ministers, and their representatives from various African countries, emphasizing the shared vision for the region’s progress.
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