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Article

4 Apr 2013

Author:
[analysis] Manoah Esipisu, Business Day [So. Africa]

‘Resources curse’ still plagues Africa

Striking oil or precious minerals is supposed to signal the dawn of a new era of prosperity for any country. Not so in many corners of Africa. The...citizens of the CAR have not benefited much from their country’s diamonds and gold, just as those in the Niger have little to show for their uranium. Sudan and South Sudan have already exchanged salvos over oil...The Democratic Republic of [Congo's]...vast country’s diamonds, gold, cobalt, copper, and oil have done little to lift it from poverty, but have inspired decades of armed conflict...A sense of economic exclusion, fueled by the perception that a country’s resources are being siphoned away by its inept and corrupt leaders rather than benefiting its people is responsible for the growth of dissent...[C]ountries have to adopt clear strategies of building credible institutions that safeguard their economic interests and outline how business can be conducted above board.