Think about Africa. What images come to mind? Likely, you envisioned wildlife and undernourished children. This narrative, perpetuated by international media and NGOs, paints a misleading picture of Africa as needy and dependent on aid.
In reality, Africa is an immense continent which is rich in various countries, cultures, resources, and innovation. Vibrant cities like Lagos, Nairobi, and Johannesburg are hubs of young talent, creativity, and growth.
Consider that by 2030, young Africans are expected to make up 42% of the world's youth.
Africa's cultural heritage and growth
Currently, approximately 1.4 billion people live in Africa, which consists of 54 sovereign countries. And the trend is positive: Africa’s population is increasing by 80 people every single minute. It has a rich cultural heritage which is expressed in the 2,000 living languages that are spread all over the continent. In 2021, the Republic of Chad held the title of being Africa's and the world's most culturally diverse nation.
You can also visit the Cradle of Humankind, about 50 km from Johannesburg, South Africa. Scientists claim that this is where the earliest primates were discovered.
Africa's wealth of natural resources
Now we turn to your smartphone, laptop and electric vehicle. All of them contain one very important element called Cobalt as it increases the duration of your battery.
Do you know where it comes from?
Right, Africa. To be precise, 70% of the world's cobalt production comes from the Democratic Republic of Congo, which is considered to be the richest country in terms of natural resources. This is a puzzling fact when you consider that the DRC ranks 136th out of 188 countries in terms of GDP.
It shows a serious discrepancy between its natural potential and its current actual economic contribution, as well as its social impact on its society. You can find articles with titles like "Congo Bleeding for Cobalt: A Genocide in the Making", highlighting the fact that people are dying because of cobalt.
However, not only the Democratic Republic of Congo is rich in natural resources, but the whole continent of Africa is. According to the United Nations, Africa holds about:
Looking at these figures, we can certainly not say that Africa is poor, quite the opposite.
While we cannot completely ignore political and institutional weaknesses and challenges, as in the case of cobalt, we want to change the narrative around Africa to a positive one.
In future newsletters, we want to highlight and disseminate fascinating growth trends embedded in Africa's richness by looking at specific cases from different countries, showing its diversity and power.
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