Shahzad Ali Urges To Exploit Africa Vast Potential, Holds Estimate 30% Mineral Reserves

ISLAMABAD, (UrduPoint / Pakistan Point News - 22nd Oct, 2023) Chairman Pakistan Hitech Hybrid Seed Association(PHHSA) Shahzad Ali Malik on Sunday emphasized the urgent need for fully exploiting the vast potential of Africa, a continent that holds an estimated 30 percent of the planet’s mineral reserves.

Talking to a delegation of industrialists, he said Africa possesses an impressive range of minerals particularly those vital to the energy transaction such as nickel, cobalt, graphite, lithium and rare earth elements, said a news release here.

He said nearly a fourth-fifth of the world’s total supply of platinum, half of its manganese and two-thirds of its cobalt come from Africa.

He said the continent also boasts 40 percent of the world’s gold reserves and an astounding 90 percent of its chromium.

He said it’s blessed with abundant resources, a rapidly growing market and golden opportunity for Pakistani businesses to expand their horizons and achieve unprecedented growth.

He said as we all know, Africa is experiencing a significant economic transformation, with several countries showing remarkable progress in various sectors.

The continent's burgeoning population, combined with increasing urbanization and technological advancements, has created a vibrant market hungry for goods and services that promise a perfect environment for Pakistani businesses to introduce their products according to their demand, technologies, and expertise.

Shahzad Ali Malik Sitara-I-Imtiaz said Pakistan, with its entrepreneurial spirit and innovative solutions, has much to offer to African nations.

From agriculture and healthcare to technology and renewable energy, our businesses can collaborate and contribute to the development of Africa while reaping substantial benefits, he added.

He said Pak business community has the opportunity to make a significant impact on the continent's development while ensuring sustainable growth and profitability.