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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

(p.78) 11 Africa and the Curse of Natural Resources
Global Business

Mahesh K. Joshi

J.R. Klein

Oxford University Press

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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