The Africans for Africa Initiative (AFA) has formally announced that Launch Africa Capital Manager (LAC) will operate its pan-African mining investment fund — and that the vehicle has achieved a first close of $100 million. This milestone marks a significant moment for African-led resource investment.
AFA says the fund is mineral-agnostic, designed to channel capital from African, diaspora, and international investors into high-quality mining and energy projects. Its central pledge is that a minimum of 51 percent of project benefits — including revenue, employment opportunities and local value-addition — must return to Africans and their communities. The model aims to reverse decades of value leakage from the continent’s mineral wealth.
Why LAC and why now
LAC brings a strong institutional footprint, with 164 investments across 25 African countries. Its governance track record, regional reach and investor networks provide AFA with the experienced fund-management structure needed to operate at scale.
AFA’s leadership frames the fund as a response to an old problem: Africa’s world-class mineral reserves have long been under-capitalised by local actors, allowing external players to dominate value capture. AFA’s co-founder says the initiative aims to create an enduring African institution capable of driving sustainable, broad-based development from the continent’s resources.
First deployment: Ghana signals early intent
AFA has already moved to deploy capital, committing about $10 million from the first close into a gold-tailings reprocessing project in Ghana. The investment targets near-production assets with rapid cash-flow potential and environmental benefits, including the rehabilitation of legacy waste sites.
This early investment reflects the fund’s philosophy: pairing commercial returns with sustainability, technical de-risking and meaningful community impact.
What this means for Africa’s mining future
Global demand for critical minerals — from copper and lithium to manganese and rare earths — continues to surge. Africa, hosting some of the world’s most significant reserves, stands at the centre of this supply chain. As competition intensifies, questions of who finances and governs extraction have taken on strategic importance.
By pooling African, diaspora and global capital under African management, the AFA Fund offers a structural alternative to foreign-dominant mining models. It aims to shift long-term control, economic benefits and ownership closer to Africans and the communities living around project sites.
If executed effectively, AFA could become one of the first continent-wide mining investment institutions built on African ownership, strong governance and community-centred development.
