As competition for critical minerals intensifies, African governments are increasingly positioning national mining companies at the center of investment strategies. Rather than serving solely as state shareholders, national mining companies are increasingly leading project development, securing investment and supporting domestic mineral processing.

The shift comes as Africa seeks to unlock an estimated $8.5 trillion in untapped mineral resources, including around 30% of the world’s critical mineral reserves. While the continent remains one of the world’s largest suppliers of raw minerals, governments are increasingly leveraging national mining companies to attract investment while expanding domestic processing, strengthening supply chains and supporting mining-led industrialization.

In West Africa, Liberia is advancing plans to establish a National Mining Company to unlock its iron ore and critical minerals potential, with an estimated 80% of the country’s geology still underexplored. Guinea has established the Nimba Mining Company as part of its broader Simandou 2040 strategy to maximize value from the country’s iron ore and bauxite resources, while Mali has strengthened the role of the Société de Patrimoine Minier du Mali in supporting development across its gold and lithium industries.

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In East Africa, Uganda recently established the Uganda National Mining Company, which will hold equity stakes of up to 15% in industrial mining projects as the country develops its rare earth, graphite and gold sectors. Meanwhile, the DRC continues to expand the role of state-backed entities including Entreprise Générale du Cobalt and Gécamines as it seeks to capture greater value from one of the world’s richest critical minerals endowments.

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In Southern Africa, Zambia is leveraging ZCCM Investments Holdings to attract strategic investment as it targets copper production of three million tons annually by 2031. Zimbabwe is similarly using Kuvimba Mining House to accelerate development across its gold, lithium and nickel assets while advancing national beneficiation objectives.

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The African National Mining Companies Forum at AMW 2026 will provide a platform for investors to engage directly with the institutions increasingly shaping mining policy and project development across the continent. Discussions will explore how national mining companies can structure investment partnerships, mobilize capital, strengthen regional cooperation and accelerate value addition across Africa’s mining sector.

The mezzanine debt funding will be used by Nesa as growth capital to fund the acquisition of solar photovoltaic (“Solar PV”) sites and expand its PPA portfolio. Nesa is committed to providing renewable energy solutions that drive savings, ensure uninterrupted operations, and reduce businesses’ carbon footprints by offering tailored renewable solutions, including on-site and off-site generation and storage.

Since its inception, Nesa and its founders have built over 46 megawatt-peak (“MWp”) of Solar PV generation capacity and 6.5 megawatt-hours (“MWh”) of battery storage and has raised over R400 million in capital in managed funds that have invested in and currently operate over 70 Solar PV C&I assets on a PPA basis.

The Nesa Power Group has built and operated C&I renewable energy assets through strategic investment partnerships and managed funds for more than a decade and has now evolved into an integrated renewable services group providing the C&I market with turnkey renewable energy services. Through its group companies, Nesa offers the market greenfield development, in-house design, engineering, procurement and construction management (“EPCM”), PPA funding, ownership and maintenance (“O&M”) services as well as carbon credit development services where the group has one of the 1st solar based VERRA carbon grouped projects in South Africa.

Tshandu Ramusetheli, CEO of Maia Capital, said: “We are excited to partner with Nesa on this transaction and to support their growth as they continue to build out their renewable energy platform. This investment sits at the heart of what we set out to achieve when we established our impact fund — deploying private capital to address real societal challenges. Providing clean, affordable energy to South African businesses is one of our key impact and investment objectives, and it directly supports the government’s ambition to strengthen the country’s energy security through expanded private sector generation. This partnership exemplifies our belief that impactful investments can drive both economic growth and social progress”.

Percy Ying, Co-Founder of Nesa Power and Group Chief Investment Officer, commented: “We are thrilled to welcome Maia Capital as a long term partner and are grateful for their confidence in Nesa’s vision and capabilities. This investment materially strengthens our ability to execute on the Group’s growth strategy — accelerating the growth of our PPA portfolio which will underpin our business going forward. The investment will also facilitate meaningful job creation and contribute positively to the broader South African economy — an outcome we are deeply committed to. We extend our gratitude to Maia Capital, our clients and stakeholders, as well as our valued management team for their unwavering belief in Nesa’s potential.”

Mike Bleyenheuft, Co-Founder and CEO of Nesa Power, added: “Securing this mezzanine facility from Maia Capital is a significant milestone for the Group and reflects the strength of the business we have built. The partnership with Maia Capital will ensure that Nesa continues to deliver innovative, high-quality renewable energy solutions to the C&I market. The energy transition in South Africa is accelerating, and with the private renewable market on a trajectory to surpass R200 billion by 2030, the opportunity ahead of us is substantial. We look forward to leveraging this partnership with Maia Capital to drive our next chapter of growth.”

Covington & Burling acted as legal counsel to Maia Capital

Taking place from October 14 – 16 in Cape Town, AMW 2026 will feature a dedicated Zimbabwe Country Spotlight, showcasing lucrative opportunities across the country’s mining value chain. The country spotlight will feature high-level panel discussions, exclusive networking sessions and project showcases, connecting global investors and service providers with senior decision-makers from the Ministry of Mines and Mining Development of Zimbabwe, the Chamber of Mines of Zimbabwe and leading mining companies operating across the country.

The spotlight comes at a pivotal moment for Zimbabwe, as the country seeks fresh capital to unlock value from more than 60 known mineral occurrences spanning gold, lithium, platinum group metals, chrome, coal and rare earths.

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In a major move to improve investment competitiveness, Zimbabwe reduced mining-related license and permit fees in May 2026, lowering operational costs for investors while streamlining market participation. Registration fees for dealing in precious stones have been reduced from $15,000 to $10,000, while export permit fees have been cut from $1,875 to $500. New licensing categories – including permits for gold jewellery manufacturing and lithium processing plants – have also been introduced as part of a broader strategy to promote investments across in-country value addition projects. The reduction in fees for beneficiation projects follows the April 2026 introduction of export quotas for lithium concentrates ahead of a planned 2027 ban on concentrate exports. The shift is already reshaping the country’s lithium industry, with Zhejiang Huayou Cobalt achieving Zimbabwe’s first export shipment of lithium sulphate salts in April 2026.

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Coming into this picture, AMW 2026’s Zimbabwe Country Spotlight will provide investors with direct insights into these evolving regulatory frameworks, highlighting emerging investment and partnership prospects in lithium processing and across the mining value chain.

Zimbabwe’s gold sector is also positioned for renewed growth amid sustained high global gold prices (averaging $5,000 per ounce). In line with this momentum, Zimbabwe’s sovereign wealth fund, Mutapa Investment Fund, is seeking $250 million to expand gold mining operations. Against this backdrop, AMW 2026 offers a timely platform for investors to engage with one of Africa’s most prospective brownfield gold markets and explore opportunities across exploration, mine expansion and processing infrastructure.

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AMW 2026’s strong emphasis on artisanal and small-scale mining (ASM) formalization also aligns closely with Zimbabwe’s national mining development strategy. In May 2026, Zimbabwe certified 300 small-scale miners following completion of training programs safety, compliance and productivity. Supported by funding from Mutapa Gold Resources – a subsidiary of Mutapa Investment Fund – the initiative aims to train and formalize 1,500 ASM players.

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As the official platform where Africa’s mining opportunities are discussed and maximized, AMW 2026 will provide stakeholders with market intelligence on Zimbabwe’s evolving mining landscape and investment outlook.