Why is Africa so rich but so poor?

Africa is rich in mineral resources. Unfortunately, African leaders have allowed foreign corporations to purchase land and the resources above and below ground. These corporations take Africa’s assets back to their homelands and use those assets to increase their wealth.

 

African workers and civilians are completely cut out of wealth creation because land deals are negotiated between governments and corporations. Foreign nations typically bring workers from their native lands to Africa to extract resources, so African workers are also cut out of currency acquisition.

 

Finally, African nations like Ghana are still forced to pay colonial taxes, draining their resources. And to add insult to injury, European nations like Belgium looted and held on to their gains in the Congo under King Leopold by placing African gold in European banks and using those assets to generate interest that further increases European wealth at the expense of African nations. 

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Featured Black Owned Business

Garners Garden Dental Health Package - Buy Black

Build Your Library

Welcome Back!

Login to your account below

Create New Account!

Fill the forms below to register

Retrieve your password

Please enter your username or email address to reset your password.