Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube, has called on African countries to urgently adopt modern technologies to add value to their mineral resources and maximise economic returns from the continent’s vast natural wealth.
Prof Ncube made the remarks on the sidelines of an African Investment Promotion Conference, held yesterday, where policymakers, investors and development partners gathered to discuss strategies for attracting sustainable investment and accelerating industrialisation across the continent.
“Africa can no longer afford to remain a supplier of raw minerals to the rest of the world. If we are serious about transforming our economies, we must embrace modern technology and artificial intelligence to move up the value chain and extract maximum value from our mineral resources,” he said.
He said the integration of advanced technologies into mining and mineral processing would improve efficiency, transparency and competitiveness.
“Artificial intelligence allows us to optimise exploration, improve beneficiation processes and reduce costs, while ensuring better environmental management. This is how African countries can turn mineral wealth into inclusive economic growth,” said Prof Ncube.
The minister said Africa’s failure to fully beneficiate its minerals has historically limited the continent’s developmental gains.
“For decades, Africa has exported minerals in their raw form and imported finished products at a much higher cost. That model does not serve our development aspirations.
Technology gives us the opportunity to reverse this trend and build strong industrial bases anchored on our own resources,” he added.
Prof Ncube said Zimbabwe is positioning itself to take advantage of technological innovation as part of its broader investment promotion and economic reform agenda.
“We are deliberately creating an enabling environment that supports investment in value addition, innovation and skills development. This includes aligning our policies to attract investors who bring technology, capital and expertise,” he said.
He added that the use of artificial intelligence and digital solutions also enhances investor confidence.
“Modern technology improves data accuracy, governance and accountability. Investors want clarity, efficiency and predictability, and technology helps us deliver exactly that,” said Prof Ncube.
The minister called for stronger collaboration among African countries to share knowledge and build regional value chains.
“No single country can do this alone. We must cooperate as a continent, pool our resources and harmonise our strategies so that Africa benefits collectively from its mineral endowment,” he said.
Minister Ncube said conferences focused on African investment promotion are critical platforms for shaping a common vision.
“These engagements allow us to align policy, capital and innovation. They are essential if Africa is to fully harness its natural resources for sustainable development,” he said.
The African Investment Promotion Conference has become a key forum for discussing how the continent can transition from exporting raw minerals to producing value-added industrial products.
