After extensive discussion and debate, the 6th African Resource Bank concluded with the group agreeing to a number of consensus positions on how African nations can better utilize their natural resources to raise the living standards of their people. While there are too many to cover in full, a couple of major themes arose. The overall consensus was that private business and investment in the natural resources sector – and in general – are critical to development and improving standards of living in African countries. The group agreed that governments …
MOMBASA, Kenya — The sixth African Resource Bank meeting is focused on the important question of why Africa, blessed with rich natural resources, has failed in most of the continent to turn that advantage into wealth and increase living standards for its people. It is an old question, one that has been asked for decades after seeing Nigeria, Angola, Zambia and other countries squander vast wealth gleaned from resources. However, it has gained renewed urgency as the fight over resources becomes a source of conflict. Dozens of experts and interested …
MOMBASA, Kenya — It took 16 hours to fly from Washington to this port city for the sixth annual African Resource Bank. I left a chilly fall and arrived in an equatorial warmth. The interest in the U.S. election and President-elect Barack Obama is omnipresent. Kenyan newspapers and news programs have extensive coverage and opinion about the election. Most seems celebratory and proud that the son of a Kenyan has been elected president of the world’s most powerful country. However, there also seems to be a common belief that the …
