abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb
Article

7 Oct 2013

Author:
Donald Kaberuka, in This is Africa

Africa’s mineral wealth: A blessing or a curse?

We...estimate that the continent’s natural resources will contribute over $30bn per annum in government revenues over the next 20 years...Africa is said to be losing over $60 billion a year in illegal outflows and price manipulation in the extraction of minerals, with most of the proceeds going offshore. Natural resources industries, and especially extractives, have developed as ‘enclave economies’, generating wealth that is exported rather than shared, or ploughed into the areas where it is needed most, in meeting human development challenges and building infrastructure. There needs to be robust policy, sound regulatory and legal frameworks, and transparency in how decisions on the exploitation of resources are taken, and the revenues distributed. That is why the first priorities in dealing with natural resources are not so much about exploration or exploitation or the environment…but about best policy and practice.

Privacy information

This site uses cookies and other web storage technologies. You can set your privacy choices below. Changes will take effect immediately.

For more information on our use of web storage, please refer to our Data Usage and Cookies Policy

Strictly necessary storage

ON
OFF

Necessary storage enables core site functionality. This site cannot function without it, so it can only be disabled by changing settings in your browser.

Analytics cookie

ON
OFF

When you access our website we use Google Analytics to collect information on your visit. Accepting this cookie will allow us to understand more details about your journey, and improve how we surface information. All analytics information is anonymous and we do not use it to identify you. Google provides a Google Analytics opt-out add on for all popular browsers.

Promotional cookies

ON
OFF

We share news and updates on business and human rights through third party platforms, including social media and search engines. These cookies help us to understand the performance of these promotions.

Your privacy choices for this site

This site uses cookies and other web storage technologies to enhance your experience beyond necessary core functionality.