Why isn’t revenue from oil, gas and mining spurring economic growth and social development in resource-rich African countries?
Many African countries have received billons of dollars in revenues from oil and other natural resources over the last 25 years. Yet, the per capita income of most of these countries remains at less than $3 a day.
In many cases, the lack of accountability and transparency in the management of revenue exacerbates poor governance and often fuels cycles of corruption, conflict and poverty.