Mariam Abeeb
The Economic Commission for Africa (ECA), has called for a bold rethinking of Africa’s extractive sector to make it a driver of sustainable development, inclusive growth, and economic diversification.
The outgoing Deputy Executive Secretary of the ECA, Mr Antonio Pedro, said this in a statement by the commission .
Pedro spoke during his farewell lecture titled “Extractive Industries and Economic Diversification in Africa: Can Africa Break New Ground?” in Addis Ababa.
He said that in spite of the continent’s vast mineral wealth and multiple frameworks such as the African Mining Vision (AMV), the sector remained largely untapped as a tool for long-term structural transformation.
“The extractive sector still struggles with over-reliance on primary commodity exports, limited job creation, and a disconnect from broader industrial policy.
“We must reframe our approach. The conversation has to go beyond resource extraction to value addition, transparency, local content and equitable benefit sharing,” he said.
Pedro reiterated ECA’s efforts in promoting a sustainable mining agenda.
According to him, this was done through initiatives like the African Minerals Development Centre and the International Study Group on Mining.
He also cited his work in integrating natural resource governance with new economic frontiers like battery electric vehicles (BEVs) and critical minerals for green energy transition.
The farewell lecture sparked an extensive dialogue among experts and industry stakeholders, including Prof Arkebe Oqubay of SOAS London and Mr Yao Graham, Coordinator of Third World Network-Africa.
Ms Lisa Sachs, Director of the Columbia Center on Sustainable Investment, and Prof Elizabeth Bastida of the University of Dundee were also in attendance.
The participants agreed on the urgent need to move Africa’s extractive policies from a narrow resource revenue model to one that supported industrialisation, human capital development, and economic complexity.
Dr Said Adejumobi, Director of Strategic Planning, Oversight and Results at ECA, said that unlocking the sector’s full potential would require a political economy approach.
Adejumobi, chairing a panel discussion at the event, also reiterated the importance of tackling structural bottlenecks in infrastructure, skills, and regulation in the sector.
“Pedro’s legacy reminds us that Africa’s mineral wealth can be a springboard for industrial development, not a curse,” Adejumobi said.
He said that key recommendations from the panel included promotion of local content policies to stimulate job creation and local enterprise development.
He listed other recommendations to include investment in science and technology to support mineral-based industrialisation; good governance and strong institutions to combat illicit financial flows and enhance transparency.
