A powerful Washington business lobby is urging US policymakers to take a more direct financial role in African mining to secure critical mineral supply chains and counter Chinese influence. In a new report, the US Chamber of Commerce advocates for allowing government agencies like the International Development Finance Corporation (DFC)—which manages a $60 billion budget for global investments—to acquire equity stakes in African projects. This strategy aims to reduce investment risks and attract private capital from Wall Street, which is often hesitant about African markets. The push aligns with the recent confirmation of finance veteran Benjamin Black as the new DFC CEO, who has signaled a desire to work more closely with private investors. The initiative also supports a key goal for African nations: moving up the value chain by processing their own minerals, which would simultaneously create local jobs and build more resilient, rebalanced supply chains for the United States.
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