Natural Resources as Revenue, not a Curse, for Economic Development

I don’t often write about my job because I have yet to bridge my personal and professional life in a way that is compelling to either side of the shore.  So when the opportunity arises to quote people who have articulated something I could not have otherwise done, why not share? Isn’t half the internet clever, quippy commentary on things other people have said? Well this is neither. It is simply a sharing.

Kofi Annan recently wrote an op-ed for The New York Times about the opportunity to harness private sector investment in natural commodities in Africa.  This captures quite well one aspect about why I was so keen to work in Johannesburg for ECIAfrica.

“Across Africa, oil, gas and minerals are being discovered more often than ever before. Nowhere is the global commodities boom being felt more acutely. Over the next decade, billions of dollars will flow into countries previously starved of financial capital…Used wisely, these natural resource revenues could lead to sustainable economic growth, new jobs and investments in health, education and infrastructure…”

And major thanks and congrats to Senator Ben Cardin (what up Gallant family!) for driving the Cardin-Lugar amendment of the Dodd-Frank Act that will require U.S. oil, gas and mining companies to publish payments made to government. I forget I have distant-ish family members who champion legislation on this stuff!