[Video] Animation -- Riding the crest of a global commodity wave [Africa]
Author: Africa Progress Panel, on YouTube, Published on: 16 October 2013
Riding the crest of a global commodity wave, natural resources have fuelled a decade of rapid growth in Africa. The continent has now joined the world league of high growth economies...In practice, though, too few Africans have benefitted from the natural resources beneath our soils and waters. Four of sub-Saharan Africa's top oil producers have disappointing human development indicators...The Africa Progress Panel remains upbeat about the prospects for Africa. We see good momentum for change among governments, multinationals, and the international community too. African countries are leading the charge to become compliant with the Extractive industries Transparency Initiative, for example...Africa's natural resources offer excellent opportunity to lift millions out of poverty...But Africa can still benefit from better policies and leadership. This year's Africa Progress Report...recommends that...[i]nternational business should clarify their ownership structures, disclose payments to governments, and combat transfer pricing.