Resources abound in africa but how to manage them well to take advantage of absolute and comparatives cost ADVANTAGES is the problem.
Africa is endowed with a rich diversity of environmental resources. Some of these are geographical, terrestrial, aquatic and country-specific resources while others transcend national boundaries of two or more countries within the region or continent. Since World War II, Africans have embarked on the massive utilisation of their environmental resources for improving their quality of life and that of their global business partners (Frobel et al. 1988; French 2000). In spite of the abundance of these resources, local communities, predominantly ...view middle of the document...
2 years of current production and 8.01 % of the world's reserves. Africa produced an average of 8804.4 thousand barrels of crude oil per day in 2011, 10.44% of the world and a change of -12.7 % compared to 2010.
Five countries dominate Africa's upstream oil production. Together they account for 85% of the continent's oil production and are, in order of decreasing output; Nigeria, Libya, Algeria, Egypt and Angola. Other oil producing countries are Gabon, Congo, Cameroon, Tunisia, Equatorial Guinea, the Democratic Republic of the Congo, and Cote d'Ivoire. Exploration is taking place in a number of other countries that aim to increase their output or become first time producers, Ghana is a typical example in recent times. Included in this list are Chad, Sudan, Namibia, South Africa and Madagascar while Mozambique and Tanzania are potential gas producers.
According to the same survey, Africa had in 2011 proved natural gas reserves of 14.53 trillion cubic metres, 6.97% of the world and equivalent to 71.7 years of current production while 2011 natural gas production of 202.65 billion cubic metres, a change of -5.1% versus 2010 and equivalent to 6.17% of the world total. Africa had 2011 natural gas consumption of 109.8 billion cubic metres, 3.4% of the world total
In all, 58 Countries in Africa have Oil and Gas Profiles. These are: Algeria, Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad Comoros, Congo, Côte d'Ivoire, Democratic Republic of The Congo, Djibouti, Egypt, Equatorial Guinea, Eritrea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritania, Mauritius, Mayotte, Morocco, Mozambique, Namibia, Niger, Nigeria, Réunion, Rwanda, Saint Helena, São Tomé and Príncipe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, South Sudan, Sudan, Swaziland, Tanzania, Togo, Tunisia, Uganda, Western Sahara, Zambia, and Zimbabwe
(Source ©: 1995-2013, MBendi and its associated information providers)
Ore resources in Africa are abundant, and extremely more so nowadays as other continents are beginning to face depletion of resources. The copper belt in Katanga, the diamond mines in Sierra Leone, Angola, and Botswana are well known for their abundance and rich produce, albeit.
Africa! Lagging or Endowed in resources, relative to the world?
'Both on a per-square mile and a per capita basis, Africa lags behind the global average in mineral production and reserves' (Bright Simons, IMANI Ghana). There is a near-universal belief that Africa is the richest continent on Earth from a natural resource point of view. This belief is most strongly associated with mineral wealth, which is in the form of natural resource endowment easiest to measure.
In what has become the accepted narrative, Africa is poor both because of and in spite of its fabulous mineral wealth. The logical implication of such a view is clearly then that Africa has to do...