Can oil and minerals develop Africa?

19. jun 2014
Af
Lisa Sachs and Morten Blomqvist

Sub-Saharan African countries are now among the fastest-growing economies in the world with an average growth of 5.4 percent predicted by the IMF for 2014, the second fastest growing region in the world (following developing countries in Asia). The economic growth is to a large extent being driven by investments and increased productivity in the extractive industries. The export of oil and minerals from Sub-Saharan Africa increased from $56 billion in 2002 to $288 billion in 2012, accounting for over two thirds of total export growth from the region during this period.

IBIS-analysis: Can oil and minerals develop Africa?