Why the wealth of Africa does not make Africans wealthy

Africa has significant natural resource wealth. The region is home to the world’s largest arable landmass; second largest and longest rivers (the Nile and the Congo); and its second largest tropical forest. The total value added of its fisheries and aquaculture sector alone is estimated at USD 24 billion. In addition, about 30% of all global mineral reserves are found in Africa. The continent’s proven oil reserves constitute 8% of the world’s stock and those of natural gas amount to 7%. Minerals account for an average of 70% of total African exports and about 28% of gross domestic product.