This news article delves into the paradox of Africa's vast mineral wealth and persistent underdevelopment. It highlights the need for a more equitable distribution of wealth and a shift from resource extraction to value creation. The article features discussions from African leaders at the anniversary of a mining group, emphasizing the continent's potential as a global player in the green energy transition.
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“However, this body is very significant to ensure that Africa, being a bride, is not going to be bastardised again. Africa has been bastardised for centuries. If you know history, you see the trajectory of Africa. It’s been very sad. We evolved from slavery to colonialism, to neo-colonialism, to imperialism, and now to economic subjugation.
His speech highlighted examples from countries like China and South Korea that adopted tailored strategies rather than adhering to traditional Western models and called for urgent action to improve the future of “What’s fascinating is that each of our countries brings unique resources to the table. Gabon has manganese, Guinea has iron, Nigeria has gas, and Congo has carbon. By combining these elements, we can create a thriving
“This made me wonder: why don’t more African banks transition from traditional retail banking to investment banking? This seems to be the next big challenge. We need to encourage African banks and investors to invest“Financing is a critical issue for Africa’s development, and it’s something we need to address urgently as we plan for the future. By next June, we should have actionable strategies to strengthen African financing systems for sectors like mining,” Mr Sylla said.
Economics Africa Energy AFRICA MINING DEVELOPMENT EQUITY GREEN ENERGY MINERAL WEALTH
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