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Home > News > Africa: Fresh Scramble for Riches

August 21st, 2007

Africa: Fresh Scramble for Riches

Abstract:
Addressing a public discussion entitled Namibia and the New Scramble for Africa's Resources last week, Melber said small local elites, "who exploit their political control over national wealth for their own gains", are collaborating "with those operating from outside offering them the most convenient - and unashamed - access to the small slice of the cake they are able to keep for themselves in such sell-out deals".

He said developed nations are desirous to explore and exploit Africa's oil, uranium oxide, diamonds, gold and other precious and strategic minerals and metals - often needed in high-tech and nanotechnology manufacturing processes in the industrialized world - as well as timber and rich fishing stocks along the coastline of the continent.

Source:
allafrica.com

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