Firm Launches Fund to Address  $2.1trn Mining Shortfall

Kasim Sumaina in Abuja 

The Africans for Africa Fund has officially been launched at the AFNIS 2025 conference, marking a significant milestone in promoting African ownership in the continent’s lucrative mining sector. 

The fund aims to address the projected $2.1 trillion funding shortfall in the mining industry by 2050 and, expects to close an initial $50 million from institutional partners within the first 90 days of the fund’s launch.

The initiative also aims to empower Africans to take an active and equitable role in harnessing their vast mineral wealth.

The Managing Director of the Africans for Africa Initiative, Mr. Tim Tokun, noted that the objective is to create wealth for Africans from African resources, gain respectable parity alongside foreign exploration and mining companies, facilitate a visible uplifting of frontline communities, who are the indigenous landlords of these mineral resources and hold the social license to operate

Tokun, in a statement in Abuja by the Co-founder, AFA initiative, Suleiman Zakari stated that the fund is a closed-end specialist fund with a hybrid structure, drawing capital from both retail investors and institutional investors.