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| Title: | Equity in extractives: stewarding Africa's natural resources for all: Africa Progress Report 2013 |
| Author: | Watkins, Kevin |
| Year: | 2013 |
| Pages: | 120 |
| Language: | English |
| City of publisher: | Geneva |
| Publisher: | Africa Progress Panel |
| ISBN: | 9782970082125 |
| Geographic term: | Africa |
| Subjects: | energy resources economic development natural resources |
| External link: | https://reliefweb.int/report/world/africa-progress-report-2013-equity-extractives-stewarding-africa-s-natural-resources |
| Abstract: | Africa's economies have been riding the crest of a global commodity wave that could transform the continent's prospects. The 2013 Africa Progress Report explains how this unprecedented chance could lift millions out of poverty and improve the prospects of generations to come. The report sets out an agenda for maximising Africa's natural resource wealth and using it to improve well-being. African governments should start with a strengthened focus on fiscal policy and equitable public spending on infrastructure, health, education, water and sanitation. Moves towards greater transparency and accountability should be broadened and deepened. International action can create an enabling environment for strengthened governance in Africa. Tax evasion, illicit transfers of wealth and unfair pricing practices are sustained through global trading and financial systems - and global problems need multilateral solutions. African citizens should demand that their governments meet the highest standards of propriety and disclosure. Governments in developed countries should demand the same thing of companies registered in, or linked to, their jurisdictions. Foreign investors can play a critical role in facilitating change by partnering with governments to strengthen transparency, by supporting skills development, and by carefully assessing the social and environmental impacts of their operations - and many companies are providing leadership in these areas. The surge in resource wealth brings with it complex challenges and very real risks. Yet it also brings an unrivalled opportunity. And with new exploration revealing much larger reserves than were previously known, Africa stands to reap a natural resource windfall. If this resource wealth is managed effectively and equitably, it could put the region on a pathway towards dynamic and inclusive growth. [Book abstract] |