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Mahesh Joshi and James R. Klein

Print publication date: 2018

Print ISBN-13: 9780198827481

Published to Oxford Scholarship Online: September 2018

DOI: 10.1093/oso/9780198827481.001.0001

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Africa and the Curse of Natural Resources

Africa and the Curse of Natural Resources

Chapter:
(p.78) 11 Africa and the Curse of Natural Resources
Source:
Global Business
Author(s):

Mahesh K. Joshi

J.R. Klein

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198827481.003.0011

Africa is flush with natural resources, a population over one billion, a rich cultural history, and all the elements of a robust economy that still struggles with the basics. Its reliance on natural resources and the lack of resource management in a transparent and acceptable manner has led to discontent and conflict. It has the opportunity to reboot its economies by embracing value-added positions in the natural resources value chain by providing finished products instead of just the raw material. It could also offer itself as a low-cost manufacturing location to the rest of the world. Signs of more transparent governance and management of resources are being seen which will eventually lead to a path of growth. Africa’s geographical location, in the middle of three major markets; Asia, America, and Europe, gives it an attractive competitive advantage. Africa is poised to drive its emerging economy soundly on to the world stage.

Keywords:   Africa, natural resources, management, emerging market, geography, cooperation, precious metals

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