The International Monetary Fund (IMF) says the critical mineral deposits in sub-Saharan Africa (SSA) can boost the region’s Gross Domestic Product by 12% in 2050.
This was disclosed in the statement on the IMF’s official website on Monday.
The lender said that the region has an opportunity to develop critical minerals markets and processing industries to maximize the coming boom associated with them.
It stated,
It explained that the transition is achievable, if managed properly by relevant stakeholders.
IMF added that given the volatile nature of commodity prices and the unpredictability over the future direction of technological innovation, these estimates have a high degree of uncertainty—but the general direction is certainly encouraging.
The statement added,