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  • Portugal shipping of Gold Bars online, Italy Gold bars
Description
Price : $28,000.00 (Negotiable)
Type : Sell
Date : December 3, 2019
Location : Port of Spain, Trinidad and Tobago

Africa hampering sustainable development due to over-reliance on extractive

industries
Economic history has shown that, without diversification into manufacturing and

services and away from simple resource extraction, the long-term development

prospects of countries are always bleak. The need for economic diversification in

Africa is high, more so given that the growth cycle is at a low point.

This is according to multinational professional services provider Deloitte Africa

emerging markets and Africa MD Dr Martyn Davies.
He says that, for the most part, African governments have not taken advantage of the

last decade’s growth spurt to move toward diversification, neither in their economic

structures nor in their export baskets.

Instead,. Davies contends that resource-endowed countries are “anything but examples

of sustainable or inclusive growth”. Further, he states that wealth is unable to

trickle down to broader society from narrow extractive industries, particularly in

the face of rent-seeking governments.

“Nigeria is the leading example of a resource exporter where the disconnect between

previously high headline growth figures and developmental reality has been stark.

The country has never been as dependent on oil as it has been in recent years, with

over 90% of its export earnings coming from oil,” Davies mentions.
He comments that, for Africa, as a whole, the figures are “troubling”, as commodity

exports on average account for 80% of total merchandise exports. Moreover, he notes

that, in almost half of Africa’s economies, commodity exports earn 90% or more of

merchandise export earnings. “For three-quarters of African countries, commodity

exports make up 70% or more of export earnings,” Davies adds.
He affirms that, owing to this lack of diversification, most of Africa’s economies

remain dependent on the vagaries of commodity prices in the international market and

often on the price of a single resource.

Bertoua Savanna Local Miners Cameroon
TEL/***: 00237651802646
EMAIL: [email protected]
C/O CHIEF BALIKI MASANGO

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Rating & Reviews - (1.0)

smith
  • December 4, 2019

Hello, is your posting still available for sale? If yes kindly text me on.......(7817863938)

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