UK Foreign Secretary David Lammy MP launched a landmark report in Lagos, highlighting Africa’s opportunities in the global battery value chain.
The report, “From Minerals to Manufacturing: Africa’s Competitiveness in Global Battery Supply Chains,” reveals cost-competitive investment opportunities.
“With the right investment and policy environment, refining locally extracted Lithium, nickel, manganese, and copper in Africa could be up to 40% more competitive than the rest of the world by 2030,” the report states.
Helen King, Director for Economic Development and Partnerships at the UK Foreign Commonwealth and Development Office, noted, “This report shows that investors should give serious consideration to Africa’s potential as a future manufacturer of batteries, not just a buyer.”
Aminu Umar-Saqid, Managing Director of Nigeria’s Sovereign Investment Authority, emphasized the importance of localizing the supply chain, saying, “Bridging the gap between traditional energy infrastructure and renewable energy solutions, enhanced by energy storage, is vital.”
Prof. Martin Freer, CEO of the Faraday Institution, added, “African nations could play a significant role in the global battery supply chain if they could overcome investment, infrastructure, and workforce challenges.”
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Kemi Onabanjo, Manufacturing Africa programme Nigeria Country Lead, concluded, “Investment in battery manufacturing in Africa can be a win-win, creating jobs and growth locally while driving down production costs and supporting global climate goals.”
The report estimates that Africa could generate an additional USD 6.8 billion in annual revenues and create approximately 3,500 good-quality jobs in the battery supply chain.