Southern Africa’s untapped potential: a turning point for infrastructure and investment

For the past four years, Fenwick Elliott has been pleased to be a part of the 10,000 Interns[1] programme Launched in 2020, the programme offers paid internship opportunities to Black students and graduates, with the initial mission to create 10,000 internships across 25 sectors in the UK over 5 years. In 2025, they achieved exactly what they set out to do.
Munotida Maposa excelled during this year’s six-week internship with the firm, on placement with our clients, and alongside leading barristers. We were able to offer her a full-time role with us after the internship came to an end – a testament both to her effort and the opportunities presented by this programme. And below we set out an extract based on her university dissertation. Fenwick Elliott has a long history working across Southern Africa, and Muno’s observations offer an encouraging insight into the ways in which the infrastructure in the region is developing, including how it is able to support the global transition to green energy.

Sub-Saharan Africa holds nearly 30% of the world’s reserves of minerals critical in the global transition towards low-carbon technologies, yet attracts less than 10% of global mining expenditure. Within this, the Southern African Development Community (“SADC”) accounts for over a third of regional output. This signals major under-utilisation of the region’s mineral potential. As Jörgen Sandström of the World Economic Forum notes, “Southern Africa has the mineral reserves the global energy transition urgently needs, but finance flows are not keeping pace”.

For decades, political instability, governance challenges and structural inequality have deterred investment. Corruption, inconsistent regulation, and infrastructure deficits have created operational uncertainty. For example, the effects of sanctions and economic isolation following the Zimbabwe Democracy and Economic Recovery Act (2001) are still visible. The Zimbabwean government’s 2020 compensation agreement with former landowners aimed to rebuild diplomatic and financial ties, yet fiscal constraints have slowed progress. Nonetheless, recent signals of policy moderation, coupled with the country’s ranking as the fifth largest holder of lithium reserves, suggest an exciting opportunity for the nation to reposition itself within the global mineral supply chain.

Similarly, South Africa is showing signs of change. Historically, onerous operating conditions and lengthy dispute processes have deterred private sector participation in construction across the region. However, recent government initiatives are attempting to shift that narrative. The Department of Public Works and Infrastructure and Infrastructure South Africa have launched a new project preparation bid window to promote infrastructure investment. By providing preparatory funding and technical support, the initiative seeks to reduce the risk profile of public projects and attract private capital. Research from the World Bank indicates that a 1% rise in infrastructure investment can stimulate GDP growth by up to 3%. Therefore, these reforms could have a significant impact on Southern Africa’s investment flows and international growth.

Parallel to these internal reforms, cross-border infrastructure is beginning to reshape the regional investment landscape. The Lobito Corridor, a partnership backed by the European Union, the United States, Angola and the Development Bank of Southern Africa, is transforming trade connectivity by linking Zambia and the Democratic Republic of Congo’s mineral heartlands to Angola’s Atlantic port. This initiative not only reduces export bottlenecks but also signals an international appetite for strategic, multilateral engagement in African logistics. In April 2025, Namibia launched Africa’s first industrial-scale Green Iron facility, powered entirely by renewable energy through solar, hydrogen and battery storage systems. Supported by the EU-Namibia Green Hydrogen Partnership, the project marks a pivotal step in decarbonising heavy industry on the continent. Meanwhile, Zambia’s mining reforms are gradually restoring investor confidence, with projections to increase copper output from 700,000 tonnes to one million tonnes by 2026.

These developments suggest that the tide may finally be turning. Global demand for critical minerals, coupled with the energy transition and the modern market demands of artificial intelligence and electric vehicles, presents an opportunity for Southern Africa to reposition itself not only as a supplier of raw materials but as a strategic trade partner. When approaching cross-border infrastructure and mineral contracts, the focus should be on balancing investor protection with sustainable, non-exploitative local benefit. As DBSA’s Boitumelo Mosako observed, “Africa must be an active participant in shaping its own development path”.

If Southern Africa can maintain its current reform trajectory, it could serve the dual purpose of stimulating regional development and supporting the global transition to clean energy. Southern Africa’s reform momentum, supported by growing global demand for critical minerals, marks a critical juncture for the region. With sustained policy coherence, transparent governance, and strategic investment in infrastructure, the region can translate its resource endowment into inclusive economic growth and long-term competitiveness.


[1] https://10000internsfoundation.com

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