Africa’s Lithium Output May Hit 15% Of Global Supply in 5 Years – Afreximbank

Africa is set to become a major player in the global energy transition, with its share of global lithium production projected to rise to 15 per cent within the next five years as demand for electric vehicles, battery storage systems and artificial intelligence (AI)-driven infrastructure fuels long-term growth in the critical mineral market.

This is according to the 2026 Commodity Bulletin of the African Export-Import Bank (Afreximbank), which also urged African countries to leverage the continent’s abundant lithium reserves by investing in domestic processing and integrated value chains instead of exporting raw minerals.

The report noted that while lithium prices have eased following improved supply, the commodity remains the best-performing globally so far this year, driven by the global shift towards clean energy technologies.

According to the report, “Africa has rapidly emerged as the fastest-growing producing region globally, with some projections suggesting the continent could account for up to 15 per cent of global lithium production within the next five years, up from just about four per cent as recently as 2023.”

Afreximbank said the development presents a rare opportunity for Africa to capture greater value from its mineral wealth through industrialisation, noting that the continent should position itself not only to supply raw materials but also to become a manufacturing hub for batteries and other clean-energy technologies.

It stated, “Guided by its mandate, Afreximbank is increasing engagement around Africa’s immense potential to drive value addition through strategic minerals processing. This strategic focus continues to emphasise a shift from raw material exports to financing integrated value chains.”

The report added that, “transforming lithium resources from countries such as the Democratic Republic of Congo into batteries and related clean-energy technologies, will help to position Africa as a hub for green industrialisation and high-skilled job creation.”

Nigeria recently began to tap into its diverse mineral resources, as a new report identifying Nigeria’s abundant lithium, copper and bauxite deposits as strategic resources capable of accelerating the country’s transition to clean energy and supporting domestic industrialisation was presented last week to the Federal Ministry of Solid Minerals Development.

Also the minister of Solid Minerals Development, Dele Alake, had announced the discovery of what he described as a world-class polymetallic mineral province in Kaduna State containing deposits of platinum group metals, gold, nickel, copper, lithium and rare earth elements in Kaduna and Abuja.

Afreximbank identified lithium as the top-performing commodity year-to-date despite recent price declines triggered by an incremental recovery in supply. It explained that the market remains fundamentally strong because demand continues to outpace long-term supply growth, with battery storage systems emerging as a major source of lithium consumption alongside electric vehicles.

“Despite recent price declines driven by incremental supply recovery, lithium remains the top-performing commodity year-to-date, underscoring a broader structural tightening in the market. On the demand side, while electric vehicle (EV) growth has moderated in percentage terms, absolute volumes continue to rise.

“However, the more transformative driver has been stationary energy storage systems (ESS), where rapid deployment of grid-scale batteries is accelerating to manage renewable intermittency and support the expansion of AI-driven data centres, that are structurally more lithium-intensive,” the report said.