Emerging markets - Commodities boom sparks African growth

In a world hungry for commodities to support its future growth, the African continent has gained significant strategic importance for the global economy. Africa is rich in natural resources and its potential is still widely underexploited. Proven oil and gas reserves, for example, have risen by 15% over the last 10 years compared with only 8% for the world. The last commodities boom in Africa provided high revenues from commodities exports, but this was combined with unsound economic policies that led many African states into financial disaster. Noticeable efforts have been deployed to ...