Africa Resource Conflicts: Time to Try Open Markets

Published on 21st January 2014

The current conflict in the Central African Republic (CAR) is largely viewed through religious and political lens, and yet all pointers indicate that it has its roots in the infamous  "resource curse." Management of resources in Africa breeds a disease that has plagued countries such as Nigeria, Algeria, Angola, Egypt, Libya, Sudan, the Democratic Republic of Congo and Equatorial Guinea, among others. 

With new mineral discoveries happening every day in Africa, the conflicts are bound to escalate. There are new mineral discoveries amounting to $11 billion in iron, oil, gas, gold and coal in Guinea, Ghana, Liberia, Tanzania and Mozambique alone, according to the Africa Progress Panel.

Instead of concocting palliatives, it is prudent that the Africans through statutory bodies such as the African Union and Regional Economic Communities among others evolve a system to quantify the natural resources in Africa, establish a standardized trade regime for them and push for an open commodities market system. This will improve transparency and rules of engagement ultimately reducing the prevailing conflicts.


This article has been read 2,117 times
COMMENTS