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Emerging Africa, the Latest from Financial Times
Financial Times recently began a series entitled Emerging Africa. In one article entitled Africa’s Frontier Market Ready to Score, author William Wallis quotes former UN Secretary General Kofi Annan who last week launched a review of Africa's progress in meeting development goals. Annan said, “Africa is rich, and its stock is rising. The value of its land and minerals is going up. There is no lack of resources, no deficiency of knowledge and no shortage of plans. Africa’s progress rests above all else on the mobilization of political will.”
Africa has about 10% of global oil reserves, possibly more. South Africa has 40% of the world’s gold. The continent has more than a third of cobalt reserves and base metals abound. Its agricultural potential is barely touched.