There are numerous examples of African nations where the discovery of natural resources has been followed by economic instability, conflict and environmental damage. So common is the phenomenon that it even has its own name -- the "resource curse." (Can Africa break its resource curse?)
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| Oil rig off the coast of Angola |
- Angola produces and exports more petroleum than any other sub-Saharan African country, surpassing Nigeria several years ago.
- The US imports 7% of its oil from Angola
- The oil sector accounts for over 50 % of GDP, over 90 % of export revenue, and over 80% of government revenue
- Angola is the world's 5th largest diamond producer
- Foreign investment has been slowed due to corruption, human rights violations, and diamond smuggling (Wikipedia)
BUT...
The average Angolan has not benefited from the country's valuable resources
In Luanda:
- 76% of people live in slum conditions
- 50% lack access to drinking water
- 40% live in houses made of non-durable materials
- 40% lack basic sanitation
The immense poverty is everywhere. There is absolutely no geographic separation between the rich and the poor. It is common to see a row of shacks right next to a brand new, flashy building.
