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I SEE MONEY IN AFRICA I SEE MONEY IN AFRICA

Rapid urbanisation: Urbanisation is also steadily Proven oil reserves have grown by almost 150% over
improving on the continent, with the global share of the past few decades, increasing from 53.4 billion
African urban residents projected to grow to 20.2% by barrels in 1980, to 130.3 billion barrels by the end of
2050. 3 2012. 7

Shift in global economic power: Africa has one of the Other resources: Besides oil and gas, Africa is rich in
fastest-growing middle class populations in the precious minerals like:

world. 4
Ÿ Diamonds: Angola, Botswana, Democratic

Telecommunication strides: With the rise of the Republic of Congo, South Africa, Namibia
Fourth Industrial Revolution, Africa has recorded Ÿ Graphite: Madagascar, Mozambique, Namibia
80% mobile phone penetration. Over 900 million Ÿ Gold: Benin, Burkina Faso, Ghana, Mali, Sudan,
mobile phones are in operation in Africa. South Africa, Tanzania
Ÿ Nickel and uranium: Burundi, Namibia, South
Oil and gas: As of 2019, Africa was home to four of the Africa.
world’s top twenty oil-producing countries in the Ÿ Pozzolana: Cape Verde

world, with an estimated 57% of the continent’s
5
export earnings from hydrocarbons. Algeria, Angola,
Cameroon, Chad, Republic of Congo, Egypt, Guinea,
Gabon, Ghana, Libya, Nigeria, South Sudan, Sudan,
and Tunisia are all rich in crude oil. 6

3
Retrieved from https://www.csis.org/analysis/urbanization-sub-saharan-
africa#:~:text=Urbanization%20is%20transforming%20the%20world.&text=The%20global%20share%20of%20African,gross%2
0domestic%20product%20(GDP).
4
Retrieved from https://www.afdb.org/fr/news-and-events/africas-middle-class-triples-to-more-than-310m-over-past-30-years-
due-to-economic-growth-and-rising-job-culture-reports-afdb-7986
5 Retrieved from https://www.indexmundi.com/g/r.aspx?v=88&t=20
6
Retrieved from https://tradingeconomics.com/country-list/crude-oil-production?continent=africa 7
Retrieved from https://www.aljazeera.com/indepth/interactive/2016/10/race-oil-gas-africa-
161020104953200.html#:~:text=Proven%20oil%20reserves%20have%20grown,by%20the%20end%20of%202012.
4 5