Minister Gwede Mantashe: Ministerial Symposium, Banking on Africa: Mobilising Capital through partnership

Master of Ceremonies,
Your Excellencies, Ministers and Deputy Ministers, Organisers of the Investing in African Mining Indaba, Captains of Industries,
Distinguished Guests,

It is an honour to welcome you to South Africa for the 2026 Ministerial Symposium - convened at a critical moment for African mining and for global investment in minerals.

Convened under the theme “Banking on Africa: Mobilising capital through partnership", this year’s Indaba is particularly significant, coming just a few months after the first G20 Summit held on African soil.

The Summit sent a clear message that Africa is no longer on the margins of global economic decision-making, but it is central to the future of global growth and industrial transformation.

This historic gathering not only brought world leaders to Africa to address pressing global challenges, but, most importantly, it advanced discussions on promoting solidarity, equality and sustainability as key pillars of inclusive global growth.

Central to this agenda is the recognition that global partnership for sustainable development and solidarity is essential if we are to ensure that no one is left behind.

The question before us is no longer whether Africa matters, but how we can structure partnerships that unlock value, manage risks, and deliver sustainable returns while advancing development.

The reality before us is clear: Africa holds an unparalleled share of the world’s natural resources that are essential for industrialization, digitalization, and global economic growth, yet our continent remains largely poor. Instead of addressing this paradox, we too often engage in what can only be described as a race to the bottom. This must come to an end.

The G20 declaration – and the G20 Critical Minerals Framework – provide a clear pathway forward. It seeks to unlock investment in mineral exploration, promote local beneficiation at source, and strengthen governance for sustainable mining practices.

It affirms the right of mineral-endowed countries to harness their resources for industrialization and inclusive growth, while providing long-term certainty.

A key enabler of these initiatives is partnership. Our discussions today – and throughout the Mining Indaba – must, therefore, focus on how we can encourage collaboration between the public and private sectors, financial institutions, investors, and communities to unlock the full potential of our critical minerals for the benefit of our people.

Mobilising capital at the scale required for exploration, responsible mining, and value-addition closer to the point of production cannot be achieved by governments alone. Nor can it be achieved by the private sector operating in isolation. It requires partnership.

In South Africa, we are already acting on this approach. The establishment of the Junior Mining Exploration Fund is a deliberate intervention, whose early outcomes point to substantial untapped mineral potential. From an initial allocation of R400 million, the Fund has already attracted pledges amounting to R2 billion.

This demonstrates investor appetite where policy intent and financial instruments are aligned. While this is encouraging, it remains insufficient.

Across the African continent, significant geological potential remains under-explored. We must intensify geological exploration and mapping across the continent through collaborative partnerships and alignment. Such efforts are essential to alleviate the scarcity of critical minerals and to diversify the geographic sources of production.

Equally critical in the mining value chain is investment in infrastructure, processing facilities, and industrial ecosystems within producer countries. This is where partnerships become decisive: partnerships that align mining investment with infrastructure development, thereby ensuring that greater value is retained locally.

Your Excellencies, the era of Africa competing against itself on who offers the lowest returns is not a sustainable investment strategy. The opportunity before us is to structure partnerships that are transparent, predictable, and mutually beneficial.

If we succeed, Africa’s mineral endowment will not only supply raw minerals to global markets, but will anchor industrialisation, create jobs, and support inclusive growth across the continent.

Let us use this opportunity to bridge our differences and chart a clear and collective pathway towards Africa’s success, anchored in the responsible and strategic use of our mineral endowment.

Let this Ministerial Symposium – and this year’s Mining Indaba – be a platform where commitments are translated into projects, and partnerships into shared prosperity.

I thank you.

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