We hear much about the “doom-and-gloom” of the times; however, underlying the raucous is a positive story-line that needs to be harped on (at least a tad). A positive story of the past quarter century, especially in Africa, is the reduction in poverty prevalence. This is not to say that the continent is out of the woods, but that now challenge is to translate Africa’s steady economic growth into social progress and stronger societies all around.
Reuter’s states this observation as such: ‘We are at the point of a big struggle over whether natural resources will become an opportunity that is harnessed or a mistake that is repeated,’ Collier said. Will Africa’s new mineral and oil wealth finance despots and their cronies, as was the case in the commodities booms of the 20th century? Or will they produce competitive private-sector players, create high-value jobs and sustain well-functioning governments and public institutions?” What say you?