From Inherited to Created Wealth: Natural Resources Management

Moderator:   Mr. Wallace Kantai, Economics Editor, NTV

Panelists:

  • Hon. M. Job Graça, Minister of Planning, Angola
  • S. E. M. Kerfalla Yansane, Ministre d'Etat en Charge des Mines et de la Géologie de Guinée
  • Sir Paul Collier, Director, Centre for the Study of African Economies, Oxford University, UK
  • Ms. Daphne Mashile-Nkosi, CEO, Kalagadi Manganese Pty, South Africa
  • Mr. Jonathan Oppenheimer, Director, Oppenheimer & Sons.

Rapporteur:   Ms. Sheila Khama, Director, African Natural Resources Centre, AfDB

Description:

Africa is known for its abundance and opportunity. It is richly endowed with a variety of natural resources that are attracting increasing interest from around the globe. All its major regions have been experiencing strong economic growth, driven in part by its wealth of natural resources. However, the continent has not yet managed to reap the full benefits of its wealth and convert its resource endowments into long-term prosperity. One important challenge for Africa’s future is creating an enabling environment – including policies and regulations – to attract, retain and increase the level of investments, to improve its quality and to be able to diversify its downstream value chain. The panel, therefore, aims to discuss how natural resources could boost the continent’s economic growth and human development. Specifically, the panel will focus on the drivers of sustainable investment as well as redefining the challenges to maximize its level in order to help transform resource wealth into broader economic development shared by all.

If you look at the money they get from fishing in African waters, it is more than the money they send to Africa through development aid. This is a case of the rich versus the poor. Therefore, as leaders, we must take action.

Donald Kaberuka, AfDB President

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