Concept and Opinion: August 18, 2022. Africa's Natural Resources

Africa is a continent full of natural resources that have not been tapped like in other parts of the world. It is because of that the major world powers are positioning themselves to be able to exploit them and they are trying to influence the local governments in various ways.

Africa holds 40% of the world's gold (mainly in Ghana, Mali and South Africa), and close to 90% of chromium and platinum. Cobalt, essential for batteries exists mostly in the Democratic Republic of Congo (63% of the world's production). Nigeria and Angola are major oil producers.

Africa should use its own resources for development, in order to elevate its standards of living and should avoid neocolonial attempts from certain world powers.

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This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.