The purpose of this paper is to show that Africa is rich in mineral and energy resources compared to other continents . More ever, that this mineral wealth has been exploited for over centuries. More ever a survey of the changes in the policies of mineral industries over the last decade will be examined to see to what extent Africa countries have succeeded in controlling their mineral industries. The continent of Africa endows a large amount of natural resources that has been extracted and exploited for centuries. However, many African countries still rank among the poorest nations on the globe . The exploitation and sales of their natural resources to Western corporations have not helped Africans escape poverty. While traveling to Africa, we found that the region’s wealth does not translate to the people’s wealth. This is due to many reasons. These include, poor management, over population, and unstable policies. Resources are abundant Approximately half of the world’s gold supply, two thirds of the world’s manganese and chromium, and two -thirds of the world ‘s diamond réserve are in Africa. The continent is also home to many fossil fuels and minerals. Sub-sahara Africa is home to about half of the world’s uncultivated land uses only 2 percent of it’s renewable water resources. More ever, the continent contain the world’s largest reserves of natural gas and matinum group metal . Despite the abundance of these resources, however economic growth in Africa has been abysmally low . In a recent study of 47 African countries, the authors aim to explain how natural resources affects African economic growth. The authors draw up historical analysis various models and policy studies. They argue that Africa’s economic growth is shaped by how it manages it’s natural capital. Among the challenges in the continent are how use it’s resources to meet macroeconomic objectives and ensure social welfare. Natural capital plays a significant role in achieving the U N 2030 agenda. However, many African countries struggle to exploit the continent’s natural resources sustainably. This is because the continent’s natural resources are not adequately managed The G E O -6 Reginal assessment for Africa find that environmental degradation occurs faster than previously though. There are several reasons for this . Some of these include the instability of rainfall, an endogenous factor . Other include, unregulated fishing, illegal logging, and illicit financial flows . To severe these trends government must act more quickly. Among the countries that have performed the worst are oil- driven economies. More ever, oil – resources are distributed unevenly in Africa.
Dr Atem Alfred
