AMN - Getting leaders on board helps progress – comment by Yolanda Torrisi

The latest Indaba conference was a great opportunity to get together and reflect on common goals. While in Cape Town, I was reminded how important it is we prioritise the development of our industry on the continent. We need a multi-faceted approach, for sure, but one good way to make it happen is to recruit leading figures to the cause.

I was pleased to see both the President of Sierra Leone and South Africa’s Mineral Resources and Energy Minster directly address industry at the Investing in African Mining Indaba conference. Their presence reflects the reality we know – that resources are important to the future of Africa’s economies.

Sierra Leone President Julius Maada Bio’s dedication to economic reforms and the kind of political certainty that attracts investment was an encouraging sign. So too was South African Mineral Resources and Energy Minister Gwede Mantashe’s commitment to certainty on the regulatory and policy front — plus energy security.

As I said last week, it is vital that red tape is minimised for resource industry players keen on pursuing private power generation options. But the need for reducing red tape is wider. Miners and developers also need legislative certainty and policy commitment to attract finance and hold onto investors as their companies develop, launch and scale-up new projects.

During President Bio’s address, he told us he wanted to make Sierra Leone’s financial systems more durable. Mantashe meanwhile spoke of the importance of the various mining industry sectors to economic progress. Both financial infrastructure and mining sector development are needed to ensure a viable future for our industry.

"The foundation for our economic growth is a solid mining and energy industrial complex, which will allow other sectors of the economy to thrive," Mantashe argued. "We are therefore working hard to solidify that section of the economy.”

Both gentlemen made good points about what we can do to optimise growth and investment on the continent. After all, if we can develop strong economic frameworks that support infrastructure and new investment we can help power up emerging ventures.

We must work together to progress our shared vision of developing resources on the continent. To get our projects off the ground we must back reforms like those happening in South Africa and Sierra Leone. But we must also lobby for sensible legislative change as we continue to encourage political buy-in at the highest levels. Let’s support progressive reforms from our political leaders so we can move things forward and help develop our industry.

Yolanda Torrisi is Chairperson of The African Mining Network and comments on African mining issues and the growing global interest in the continent. Contact:yolanda@yolandatorrisi.com