Africa is a continent ready for remarkable economic transformation. Across its diverse nations, several key industries are powering this momentum, creating opportunities and paving the way for a prosperous, sustainable future. By understanding these dynamic sectors, middle market businesses and leaders can gain the insights needed to outpace change and unlock significant growth. We explore the forces shaping progress in critical areas, from climate-driven partnerships and financial innovation to the modernisation of mining and agriculture.

NGOs and blended finance in Africa

Africa faces an annual investment gap of $1.3 trillion, with climate adaptation requirements rising fast and public funding alone unable to deliver the scale required for sustainable development. In response, non-governmental organisations (NGOs) are forging dynamic partnerships with businesses and local institutions, deploying innovative solutions that accelerate climate resilience in sectors such as decentralised solar energy, sustainable agriculture, and cold-chain logistics. 

At the heart of these partnerships is blended finance. Globally, Africa remains the primary destination for blended finance, attracting 48% of global transactions annually between 2022 and 2024 and securing a steady $6.3 billion in financing in 2024 alone. Investment is heavily focused on the financial services sector and climate mitigation and/or adaptation in the infrastructure sector, with countries like Nigeria, Kenya, and Senegal emerging as key recipients. This highlights the region's significant role in leveraging blended finance to drive economic growth and sustainable development.

Despite this progress, significant challenges persist. Local, government-led investment initiatives remain limited, accounting for just 17% of capital commitments (although this is the highest share compared to other regions) and are therefore still reliant on external financing. Meanwhile, with the majority of investment going into financial services and renewable infrastructure, some critical social sectors, such as healthcare and education, are underfunded. 


 

“Blended finance can reshape Africa’s impact landscape when structured around measurable outcomes and strong local partnerships. NGOs bring community trust and operational reach; private investors bring discipline and scale. When aligned through transparent frameworks, this collaboration unlocks sustainable investment in vital sectors such as clean energy, agriculture, and SME development.”

Paulo Lopes
Managing Partner and CEO, Mozambique

Financial services in Africa

Africa’s financial services landscape is undergoing a rapid and significant transformation, driven largely by digital innovation. In Sub-Saharan Africa, the share of adults with a mobile money account has increased significantly in recent years, climbing to 40% in 2024 (from 27% in 2021). This surge is a powerful engine for financial inclusion, providing millions of people with access to essential financial tools for the first time.

This digital wave extends beyond payments. Innovations such as AI-powered credit scoring and embedded insurance are breaking down traditional barriers to finance. These technologies enable providers to serve previously unbanked and underbanked populations, particularly in rural areas, fostering economic empowerment and resilience. 


 

“By 2030, the financial services sector will be shaped by deepening mobile money adoption and a growing demand for SME financing. With supportive regulatory reforms and increased digital infrastructure, the market is poised to unlock significant opportunities for inclusive growth and investment.”

Masautso Mwale 
Associate Director - Audit and Assurance, Zambia

Mining in Africa

Africa holds over 30% of the world's reserves of critical minerals—such as cobalt, copper, lithium, and manganese—that are indispensable for the global transition to clean energy. As demand for these resources grows, nations across the continent are shifting their focus from simple extraction to local beneficiation. This strategy aims to capture more value domestically by processing raw materials into higher-value products.

Initiatives like the Democratic Republic of Congo and Zambia's plans to create special economic zones for battery production exemplify this forward-thinking approach. By developing local processing and manufacturing capabilities, countries can attract greater investment, create skilled jobs, and build more resilient economies.

Egypt is also becoming one of Africa’s most dynamic mining frontiers. Through major reforms to its mining law and fiscal framework (including the government’s target for mining to contribute 6% of GDP), the country has moved from an old concession model to a modern, transparent licensing system that welcomes global participation. These updates, supported by a new digital mineral platform and greater fiscal transparency, have made Egypt a serious destination for international mining investment.


 

“Egypt’s mining sector has entered a decisive decade of transformation. The shift from concessions to competitive licensing, combined with technology and ESG integration, is opening the door to international investors and local value creation.”

Mohamed Hashish 
Executive Partner, Egypt

Key focus areas for Africa’s mining industry's sustainable transformation include:

  • ESG-compliant operations: Adhering to strict environmental, social, and governance (ESG) standards is now non-negotiable for meeting global investor expectations and ensuring a social licence to operate.
  • Water-efficient technologies: As a water-scarce continent, adopting innovative technologies for sustainable water management in mining is critical for long-term viability.
  • Midstream processing: Investing in refineries, smelters, and manufacturing plants enables countries to move up the value chain, turning raw resources into finished goods for both domestic and international markets.

Agriculture in Africa

Agriculture remains a cornerstone of Africa’s economy, employing over half of the continent's workforce and accounting for a significant portion of its GDP. The sector holds immense potential to enhance food security, reduce poverty, and drive broad-based economic growth. Realising this potential requires a dedicated push towards modernisation, leveraging climate-smart practices and technology to boost productivity and sustainability.

This transformation is already underway, supported by strategic investments in innovative solutions that empower farmers and strengthen food systems.

Investment highlights include:

  • Solar-powered irrigation: Deploying off-grid solar technology to power irrigation systems helps improve crop yields, conserve water, and reduce reliance on expensive and unreliable energy sources.
  • Carbon credit programmes: Climate-smart agricultural practices, such as agroforestry and improved soil management, can generate carbon credits. This creates an additional revenue stream for farmers while contributing to global climate goals.  
  • Digital platforms: Mobile applications and online marketplaces are connecting smallholder farmers directly to markets, providing access to real-time price information, weather forecasts, and financial services. These platforms cut out intermediaries, increasing farmers' profits and improving supply chain efficiency.