Here’s an interesting read from Wharton School’s Knowledge network:
But most Africans are seeing little benefit from this influx of oil drillers and investment. In fact, because of an economic paradox known as the “Resource Curse,” they are often hurt by exports of their countries’ oil. “Between 1970 and 1993, countries without oil saw their economies grow four times faster than those of countries with oil,” Ghazvinian notes, adding that oil exports inflate the value of a country’s currency, making its other exports uncompetitive. At the same time, workers flock to booming petroleum businesses, which saps other sectors of the economy. “Your country becomes import-dependent,” he says. “That decimates a country’s agriculture and traditional industries.”
About the Author:
For more information about G. Kofi Annan, to read his blog, or to see the projects he is a part of visit his website, Annansi Chronicles. To see his clothing line, visit Annansi Clothing.
To learn more about this author, visit G Kofi Annan's Website.
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G Kofi Annan
(Visit G Kofi's Website)
G. Kofi Annan is a Ghanaian creative
director and strategist (cultural trends,
marketing, branding) who specializes in
the emerging African market. He is the
principal of Annansi
LLC, a boutique consultancy which
bridges the gap between the African market
and the global community. Annansi LLC
produces both Annansi Chronicles and Ann
ansi Clothing Co., a premium
streetwear apparel line.
Kofi is an active board member of the
African Film Commission, and has appeared
and been quoted in influential media
outlets including Reuters,
FastCompany.com, Inc. Magazine, PSFK.com,
i-D Magazine, The Source Magazine,
Complex.com, VH1, and BET. He is currently
researching a book on the relationship
between Africa’s brand image and foreign
investments.
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G Kofi Annan's
Complete
List Of
African-Accounts
Articles
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If you enjoyed this article, get G Kofi Annan's Complete List of African-Accounts Articles For FREE!
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