Asia turns to Africa for minerals, market and more

On 9 September, the NTU-SBF Centre for African Studies hosted a panel discussion examining how Asia turns to Africa for minerals, markets, and more. Moderated by Amit Jain, the panellists featured  Dr Veda Vaidyanathan, Fellow at the Centre for Social and Economic Progress; Dr Takuo Iwata, Professor at Ritsumeikan University; and Christian-Géraud Neema, Editor at the China Global South Project.

In just one month, Asia has hosted a series of Africa-plus-one forums, including the ASBF (Africa Singapore Business Forum), TICAD (Tokyo International Conference on African Development), and CII (Confederation of Indian Industry) India-Africa Conclave.

The panellists shared key highlights from each gathering. Reflecting on the CII India-Africa Conclave, Dr Vaidyanathan noted that it is not just about big brands and big companies anymore. She highlighted the growing role of small and medium-scale enterprises and women tech leaders from Bangalore and Kolkata who are now looking to scale up in African markets.

From TICAD 9, Dr Iwata pointed out that the forum has shifted from a foreign-aid approach to a more business-friendly one, with over 250 firms joining and more than 300 contracts signed.

On FOCAC, Neema remarked that “there is much more attendance of African heads of state at FOCAC than at the African Union Commission meeting,” a sign of how much importance African leaders place on their relationship with China.

Amidst a flurry of Africa-plus-one summits this year, what exactly are Asian powers seeking on the continent? Amit guided the panelists to uncover these strategic interests. China’s engagement with Africa has evolved through three phases: minerals, markets, and now political influence. India's story is more layered, as it seeks economic interests, an inclusive global governance structure, and knowledge generation between the regions. Japan’s approach, by contrast, prioritises human security, health, technology, digital, and capacity building.

The conversation also tackled other pertinent questions. Are Africa-plus-one forums a flash in the pan, or are they here to stay?  Which Asian power leads in FDI stock in Africa—China, India, Japan, or even Singapore? Do all roads lead to China when it comes to mining processing? What role does Singapore play as a trading and financial hub? Can AI and regional bodies shape the critical minerals landscape?

Dive into the full transcript here for a deeper exploration of these insights.