This article appears in the Fall 2025 print issue: The End of Development. Read more from the issue.

This article appears in the Fall 2025 issue of Foreign Policy. Subscribe now to read the full issue and support our journalism.

It has been 140 years since imperialist powers gathered in Berlin for the scramble for Africa. Today, the power dynamics between the continent’s 54 diverse nations and the rest of the world remain deeply imbalanced. Partnerships are often dominated by external actors and driven by their interests—not Africa’s. But the dismantling of old models of development and cuts to traditional aid are a stark wake-up call for Africans to seize the reins of their own development, set their own priorities, speak with a united voice, and define the terms of partnership for shared growth. This requires that Africans move with decisive courage beyond donor-defined agendas, rebalance the table, and reclaim control over their social, economic, and strategic choices.

There’s no time to waste. The race for critical minerals today is a direct parallel to the scramble for Africa—where the continent supplied the raw materials for the world’s energy and innovation but was denied the jobs, investment, and industrial development that come with processing and value addition. The actors engaged in this scramble are more diverse than before, with countries in Asia and the Middle East playing a pivotal role. The Democratic Republic of the Congo produces more than 70 percent of the world’s cobalt, and South Africa holds one of the highest grades of rare-earth elements in the world. Yet the continent retains only 10 percent of global revenue in critical minerals. Without stronger guarantees of local benefit, the current model risks deepening inequality, draining Africa’s wealth, and repeating the same patterns that have stifled growth for generations.

It has been 140 years since imperialist powers gathered in Berlin for the scramble for Africa. Today, the power dynamics between the continent’s 54 diverse nations and the rest of the world remain deeply imbalanced. Partnerships are often dominated by external actors and driven by their interests—not Africa’s. But the dismantling of old models of development and cuts to traditional aid are a stark wake-up call for Africans to seize the reins of their own development, set their own priorities, speak with a united voice, and define the terms of partnership for shared growth. This requires that Africans move with decisive courage beyond donor-defined agendas, rebalance the table, and reclaim control over their social, economic, and strategic choices.

There’s no time to waste. The race for critical minerals today is a direct parallel to the scramble for Africa—where the continent supplied the raw materials for the world’s energy and innovation but was denied the jobs, investment, and industrial development that come with processing and value addition. The actors engaged in this scramble are more diverse than before, with countries in Asia and the Middle East playing a pivotal role. The Democratic Republic of the Congo produces more than 70 percent of the world’s cobalt, and South Africa holds one of the highest grades of rare-earth elements in the world. Yet the continent retains only 10 percent of global revenue in critical minerals. Without stronger guarantees of local benefit, the current model risks deepening inequality, draining Africa’s wealth, and repeating the same patterns that have stifled growth for generations.

Africa accounts for about 18 percent of the world’s population yet contributes less than 3 percent of global trade. The continent could generate an additional $21.9 billion annually through increased exports to the world—a critical boost to domestic growth. However, wealth continues to flow out of Africa as the cost of servicing debt has skyrocketed and the price for accessing capital is up to five times higher when borrowing from capital markets than through affordable loans from multilateral banks. Credit rating agencies grade African economies with a double standard, contributing to........

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