While often overlooked in global EV outlooks, the African continent is rapidly positioning itself as a key player, both as a burgeoning market for electric mobility and as a source of critical battery minerals.
With volatile global oil prices and aggressive global decarbonization goals, several African nations are implementing proactive policy changes and are emerging as a compelling investment frontier. At the same time, rising foreign and local middle-class demand is driving industrialisation in North and Southern Africa, while low-cost, high-volume mobility solutions are reshaping transport elsewhere on the continent.
According to Mordor Intelligence, the African EV market size is projected to soar from an estimated USD 0.45 B in 2025 to over USD 4.2 B by 2030 . That represents a 56.3 compound annual growth rate. This growth is anchored in two fundamentals: industrial capacity and mineral wealth. Together, they form a compelling, dual-track investment thesis.
