Africa’s natural resources could set the continent firmly on a path to prosperity, but much of the continent’s resource wealth fails to benefit its true owners, African citizens, writes Africa Progress Panel Member, Peter Eigen, in the Journal of World Energy Law & Business.
Last year’s Africa Progress Report, Equity in Extractives: Stewarding Africa’s natural resources for all, outlines ways to ensure that Africa’s people get a better deal for their oil, gas, and minerals.
Fairer deals between extractive company and African government are likely to last longer, producing knock-on benefits in terms of political stability and more equitable growth.
Governments, multinational business and the international community all benefit from an Africa that is prosperous and stable, he writes.
Read Peter Eigen’s article in The Journal of World Energy Law & Business.