IBAC

Ghana Plans to Ban Raw Material Exports

Ghanaian President John Mahama called for a ban on the export of unprocessed raw materials by 2030. The announcement was made at the Mining in Motion 2026 summit in Accra. The head of state called for the creation of integrated regional infrastructure and processing capacities to enable Africa to transform raw materials into high-tech goods.

Ghanaian authorities intend to focus on combating illegal mining, restoring degraded lands, and legalizing the artisanal sector. Illegal mining has already destroyed more than 12,000 acres of land, of which 800 acres have been restored and replanted. Ghana joins a growing trend of African countries (including Kenya, the Democratic Republic of Congo, and Zimbabwe) shifting to domestic processing to sell higher-value products on global markets.

The trend toward banning raw material exports represents a tectonic shift in the global resource market. Russia, as a major supplier of raw materials, is facing a changing market environment. On the one hand, African countries’ shift away from raw material exports could temporarily increase global prices for some metals. On the other hand, this opens up a colossal market for Russian equipment. The construction of processing plants requires mills, crushers, beneficiation facilities, and engineering services, in which Russia has strong competencies.

African countries are aiming to establish a full production cycle locally.

Russian mining and metallurgy companies should reorient their African strategies from simply importing resources to jointly building processing facilities. Participating in local value creation will not only maintain access to raw materials but also occupy a niche as industrial equipment suppliers.

#Ghana #Africa #economy #mining #export #RussiaAfrica

The African Union Accelerates Transition to National Currencies in Mutual Trade

The African Union is calling on countries across the continent to accelerate reforms to expand cross-border payments in national currencies. This was stated by AU Commission Chairperson Mahmoud Ali Youssouf at a business forum in El Alamein, Egypt. He called for the creation of stronger African payment systems, simplified border procedures, and improved market access. He noted that the continent still imports many food products, medicines, and industrial goods that it could otherwise produce domestically.

Evariste Ndayishimiye, President of Burundi, also called for deeper economic and industrial integration. The main goal is to reduce external dependence and maintain more trade and financing within Africa.

"It is necessary to transform the African Continental Free Trade Area into a fully functioning market with unified customs procedures, cross-border payment systems, trade finance, and regional value chains," he said.

This initiative is fully consistent with the global trend toward de-dollarization, which Russia actively supports. This opens up direct practical opportunities for Russian businesses. Africa's transition to settlements in national currencies means a reduction in sanctions risks when conducting transactions, as well as a reduction in transaction costs associated with conversion through dollars or euros. Russian exporters will be able to build more direct and predictable financial chains with African partners using the ruble or local currencies.

#Africa #AfricanUnion #economy #RussiaAfrica #export