Maybe it is not your first time to hear this that Africa was great and rich, Let’s back in 1970. Many African countries had the same GDP (Gross Domestic Product) which used to measure the value added created through the production of goods and service in a country during certain period.
African countries were devasted by wars and exploited by colonisation. Asia developed fast while Africa was left behind and still today as we can found African countries have many problems in Economically especially those in the sub-Saharan region.
When it comes to natural resources Africa is Rich than any continent, It count more 30% of the world’s mineral resources including Gold, Oil, Diamonds and more.
Let’s give you an example: Tanzania is known for Gold, Congo is also known as copper, Namibia as Uranium and also Botswana known for being country with diamond.
African countries like a those in the sub-Saharan region are facing with critical challenges as it situated right near equator, those problems are in climate and weather conditions along with dought, flood and lack of farming experience.
Another big problem in Africa is corruption, abuse of power, Most of revenues from natural resources (Oil, coal, gold and more) fall into political elites and national income is not properly distributed to the lower classes.
Another reason Africa’s wealth does not make its people wealthy is in unevenness of economic growth. its wealthy used to be controled by bad governance where they use the resource at their own profits.
