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Article

1 Apr 2014

Author:
Kingsley Ighobor, in Africa Renewal

No longer a curse? [Africa]

One often hears that mineral resources are a curse rather than a blessing. That may be an exaggeration, but for the people of the Central African Republic, currently caught up in a war fuelled by diamond mercenaries...the statement rings true. Conflicts in the Democratic Republic of the Congo (DRC), Sudan and South Sudan have also been linked to the fight over control of mineral resources...Carlos Lopes, ECA executive secretary...wonders why “the continent continues to struggle with limited economic transformation, low or no resource rent and scarce employment.”....[T]he African Mining Vision['s]...goal is to ensure countries earn more from mineral resources to stimulate socioeconomic growth...With 22 African countries (out of 32 worldwide) adopting EITI standards, which require all information on mining to be made available to the public, analysts believe there is more transparency in the sector than before...Nkosazana Dlamini-Zuma, the AU Chairperson, says that Africa’s future “will be determined by the manner in which we utilize our natural resources.”