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This book has examined the way African countries utilise their natural wealth. It has illustrated that weak economic sovereignty accounts for the irony that the most endowed continent on the planet has ended being the most impoverished. It is argued in this book that weak economic sovereignty in Africa has several implications, including the situation where the continent is unable to make the most out of its abundant natural wealth. Weak economic sovereignty on the continent is manifested in the low levels of financial and monetary sovereignty among African countries, but most importantly in low productive capabilities. The conditions of low productive capabilities prevailing on the African continent have created a situation where most African countries are locked into economically debilitating dependencies, including dependence on commodity export, such that they only get a tiny proportion of the value generated from natural resources extracted from their territories. The book has also argued that the persisting weak economic sovereignty on the continent is a clear indication that while African countries attained political sovereignty six decades ago, attaining economic sovereignty has remained an incomplete liberation project that requires a new strategy to accomplish.
“The primary focus of the manuscript revolves around the pivotal concept of economic sovereignty, emphasizing the need for increased agency in controlling resources and advocating for value chain upgrading within countries pursuing resource-based development. By illustrating various examples, the text convincingly argues that a well-planned and implemented resource-based development strategy can be a liberating project, fostering economic diversification and capturing value through in-country processing.” —Maha Ben Gadha, Senior Researcher and Regional Economic Program Manager at the Rosa Luxemburg Foundation, North Africa Office.
List of Figures, List of Tables, List of Acronyms, Acknowledgements, Preface, Chapter One - Economic Sovereignty and Natural Resources in Africa: An Introduction, Chapter Two - Sovereignty and Agency: A Natural Resource Perspective, Chapter Three - Economic Sovereignty in Africa, Chapter Four - Natural Resource Sovereignty in Africa: The Elusive Quest for Self-Determination, Chapter Five - Natural Resources and Economic Development in Africa: The Paradox of Plenty, Chapter Six - Natural Resource-Based Industrialisation: Making the Most of Africa’s Natural Wealth, Chapter Seven - Natural Resources and the Re-domestication Value Addition in Africa, Chapter Eight - Reclaiming Africa’s Economic Sovereignty: What Will it Take?, References, Index