For many job seekers in South Africa finding the right opportunity remains a challenge, with 8.3-million people unemployed and young people facing particular hurdles. Across Africa, nearly half a billion people will reach working age over the coming years, each seeking not just any job, but skills, stability and a future.
Sectors such as energy, agribusiness, tourism, manufacturing and healthcare offer strong potential to create jobs and build the middle class. Among these, the manufacturing of metals and minerals stands out as a big opportunity for South Africa and other resource-rich countries. By expanding local processing and manufacturing, countries can strengthen links with growing industries such as electric vehicles and digital technology.
African countries are home to many of the minerals the world urgently needs. Demand for copper, lithium, cobalt and nickel could double by 2040, driven by growing needs for electricity, transport, digital connectivity and industry. Yet, despite this rising demand, supply remains constrained, and mineral-rich countries have not always been able to capture the full economic potential of these resources.
Just as in the job market, supply and demand matter, with the conditions around them. For decades, many African economies have contributed to global growth, supported government budgets and added to global supply chains by exporting raw minerals.
Even greater value can be created when more stages of processing, manufacturing and services take place locally. When the right infrastructure, policies and financial tools are in place, mineral wealth can translate into longer-term, shared economic gains for both producers and global partners.
Clear and transparent rules reduce risk, attract investment and help to ensure countries receive fair value from their resources.
Historically, minerals typically accounted for only 1%-2.5% of formal employment, despite contributing more than 6% of GDP and up to 20% of exports in some countries. Yet when linked to industry and supply chains, minerals can indirectly support up to 12.5% of employment across transport, logistics, manufacturing and services.
The World Bank Group sees this connection as one response to Africa’s jobs challenge. Over the next five years we expect to quintuple our support to the sector with a focus on strengthening policies and institutions, building enabling infrastructure, and mobilising responsible private investment.
Clear and transparent rules reduce risk, attract investment and help to ensure countries receive fair value from their resources. Reliable power, water, transport corridors and digital connectivity are just as essential, making industrial development possible while supporting local communities and businesses.
A practical example of this approach can be seen in Africa’s Copperbelt, where the focus is not solely on mining, but also on linking mineral production to regional power systems, transport networks and processing capacity.
Public resources alone are not enough to meet the scale and urgency of mineral demand. Private capital is essential but often held back by the high perceived risks of investing in emerging markets.
This approach is further reinforced by Mission 300, a World Bank Group and African Development Bank platform to expand reliable electricity access across Africa. By combining infrastructure financing with risk-mitigation tools, countries can attract investment into refining and manufacturing, keeping more value, employment and technical expertise in the region.
Public resources alone are not enough to meet the scale and urgency of mineral demand. Private capital is essential but often held back by the high perceived risks of investing in emerging markets. Development institutions, including the World Bank Group, can help to reduce these risks and attract private capital in ways that deliver public benefits and adhere to strong environmental and social standards. These efforts help make projects investable.
Partnership is what brings all this together. Governments should steward resources wisely and create enabling environments. The private sector can invest and innovate responsibly. Civil society provides accountability and community voice. Development institutions help to align finance, standards and technical support.
None of this works without responsible development. Mining and processing must protect communities and the environment. For the World Bank Group, strong environmental and social standards are non-negotiable. Community engagement, transparency and benefit-sharing are essential to building trust and ensuring development lasts beyond the life of a mine.
When this approach works well, Africa’s minerals can help to meet global demand and power Africa’s own development. As millions of Africans enter the workforce, minerals offer a pathway to industrial jobs, stronger economies and a more secure future.
With the right foundations in place, mineral wealth can become a lasting answer to the jobs challenge.
• Levkov is vice-president: infrastructure at the World Bank Group.
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