Mining-focused private equity firm Appian Capital Advisory plans to invest approximately $2bn in Africa over the next 12 to 24 months, although growing regulatory uncertainty is prompting the firm to direct more capital towards Latin America, according to a report by Reuters.
The London-based investor expects to deploy between $5bn and $7bn globally during the period, with Africa reportedly accounting for roughly one-third of planned investments. Appian currently holds three active investments on the continent, having exited three others, including projects in Burkina Faso and Tanzania amid political instability.
Appian CEO Michael Scherb told Reuters that changes to mining regulations, higher royalties and increased state participation were undermining investor confidence in several African markets. The firm considers Morocco, Namibia and Botswana attractive investment destinations, while also evaluating opportunities in Ghana, Ivory Coast, Mauritania and Senegal.
The firm invests across gold, copper, zinc, rare earths and other critical minerals, with Scherb particularly optimistic about copper demand driven by electrification, artificial intelligence, data centres and power-grid expansion. He said greater regulatory predictability and streamlined permitting could help African countries capture a larger share of global mining investment.
