How can Africa become a rich continent?
Africa has:
30% of the world’s mineral reserves.
8% of the world’s natural Gas,
12% of the world’s oil reserves,
40% of the world’s gold,
90% of its chromium and platinum.
65% of the world’s arable land
10% of the planet’s internal renewable fresh water source.
And the largest reserves of cobalt, diamonds, platinum and uranium in the world.
In most African countries, natural capital accounts for between 30% percent and 50% percent of total wealth.
Africa loses an estimated USD 195 billion annually of its natural capital through illicit financial flows, illegal mining, illegal logging, the illegal trade in wildlife, unregulated fishing and environmental degradation and loss.
Cote dIvoire, Ghana, and Nigeria produces 67% of all the cocoa in the world.
If they made it into chocolate, they can sell chocolate at about 25 X the price of cocoa ?
So the solution is to stop selling cocoa unless investors set factories inside Africa and create local jobs and transfer technology and skills.
Same goes for all other crops and commodities.
It can immediately value add the wages of the Africans by 2 X to 5 X.
Eventually, Africa can be the worlds major food manufacturing and minerals processing factories.
And they can get out of poverty.
Currently, they are paid unfair prices for their commodities.
Via Jack Sim
How can Africa become a rich continent?
Africa has:
30% of the world’s mineral reserves.
8% of the world’s natural Gas,
12% of the world’s oil reserves,
40% of the world’s gold,
90% of its chromium and platinum.
65% of the world’s arable land
10% of the planet’s internal renewable fresh water source.
And the largest reserves of cobalt, diamonds, platinum and uranium in the world.
In most African countries, natural capital accounts for between 30% percent and 50% percent of total wealth.
Africa loses an estimated USD 195 billion annually of its natural capital through illicit financial flows, illegal mining, illegal logging, the illegal trade in wildlife, unregulated fishing and environmental degradation and loss.
Cote d'Ivoire, Ghana, and Nigeria produces 67% of all the cocoa in the world.
If they made it into chocolate, they can sell chocolate at about 25 X the price of cocoa ?
So the solution is to stop selling cocoa unless investors set factories inside Africa and create local jobs and transfer technology and skills.
Same goes for all other crops and commodities.
It can immediately value add the wages of the Africans by 2 X to 5 X.
Eventually, Africa can be the world's major food manufacturing and minerals processing factories.
And they can get out of poverty.
Currently, they are paid unfair prices for their commodities.
Via Jack Sim
