The United States International Development Finance Corporation (DFC) plans to increase its direct equity investments in Africa, particularly in critical minerals and strategic infrastructure, as Washington intensifies efforts to strengthen supply chains and reduce dependence on China.
According to a Reuters report published on October 9, 2026, Vibhuti Jain, the DFC’s Regional Managing Director for Africa, said the agency has several potential equity investments in its pipeline, including projects in Africa’s critical minerals sector. She did not disclose details of the proposed investments.
More Investment in Critical Minerals
The DFC has more than $14 billion in investment commitments across Africa, with over $3 billion allocated to critical minerals projects or initiatives linked to the sector.
These investments include rare earth developments, a graphite mine in Mozambique and support for the rehabilitation of the Lobito Corridor, which connects copper and cobalt mining areas in Central Africa to the Atlantic coast.
Critical minerals are increasingly important to global industries, including electric vehicles, renewable energy and advanced technologies. Securing reliable supplies has become a strategic priority for the United States and other major economies.
African Digital Infrastructure Receives Major Funding
In September, the DFC announced an equity investment of up to $155 million in WIOCC Group, an African digital infrastructure provider. The commitment represents the agency’s largest equity investment to date and is intended to strengthen connectivity infrastructure across the continent.
WIOCC operates fibre networks, subsea cables and data centres in more than 30 African countries, supporting the expansion of digital services and technology businesses.
Equity Investments to Complement Existing Financing
Jain said the DFC would continue to rely more heavily on debt financing, credit guarantees and political risk insurance than on direct equity investments in the foreseeable future. However, she expects equity participation to increase as the agency expands its activities.
The strategy reflects Washington’s broader efforts to mobilise private capital, support infrastructure development and secure access to resources essential to strategic industries.
For African economies, the increased investment could create opportunities to develop mineral resources, improve transport and digital infrastructure, and attract additional private-sector funding. The longer-term benefits will depend on how projects are implemented and the extent to which they support local economic development and value addition.
The expansion also highlights Africa’s growing importance in global competition over critical minerals, technology infrastructure and supply-chain security.
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