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Qatar has joined Gulf rivals Saudi Arabia and the UAE in the race for Africa’s critical minerals, unveiling a $100 billion investment drive across ten countries. Led by Sheikh Al Mansour bin Jabor bin Jassim Al Thani, the initiative encompasses mining, infrastructure, agriculture, and energy, with substantial pledges made in nations such as Zambia, Mozambique, and the DRC. The Qatar Investment Authority has already taken a tangible step, acquiring a $500 million stake in Ivanhoe Mines, securing a foothold in the DRC’s copper sector. With Africa holding one-third of global reserves essential for clean energy, Doha is investing in the continent to diversify beyond hydrocarbons. However, with African governments now demanding local processing and value addition, Qatar’s long-term success will depend on delivering real partnerships amid fierce competition from China and other Gulf rivals.
ecoFin aGency