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fer_duzgoren - He further reiterated the fact that Africa consumes very little of its own mineral resources and exports most of it as raw materials, “with little or no local value addition and beneficiation.” Dr. Stephen Karingi of the Economic Commission for Africa (ECA) cited figures showing how much the mining companies are making in Africa. “The figures are there for all to see,” he said, “in 2010 alone, net profits for the top 40 mining companies grew by 156 per cent to $110 billion and the net asset base of these companies now exceeds $1 trillion.”“This model can no longer create the desired wealth for Africa. Africa must no longer be stuck at the bottom of the value chains. Africa must now rapidly diversify its export mix and add value to all of its raw materials by developing efficient and competitive value chains. This is especially critical, as Africa only accounts for 1.9 per cent of global value added in manufacturing, and this has not changed for decades. It is now time to industrialize Africa,” said Dr. Akinwumi Adesina. The people of the African diaspora need to invest in Africa...Get some of the stolen #wealth back to the #people.
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