Africa – The African Natural Resources Centre (ANRC), newly established by the African Development Bank (AfDB), has launched an online consultation to seek comments from all stakeholders on its draft natural resources management strategy for 2015-2020.
The recommendations and comments received will help the ANRC better assist African countries maximize development outcomes derived from Africa’s natural resources by boosting their capacity to achieve inclusive and sustained growth from natural resources.
It will also help the ANRC better advise African countries on natural resources management policy formulation and implementation to enable them to extract greater economic and social value from the development of natural resources.
The idea behind the establishment of the ANRC is to enhance African countries’ capacity to improve development outcomes from sustainable use of renewable and non-renewable resources. The Centre will achieve this through interventions that increase the effectiveness of public and private sector governance and institutional frameworks.
The centre will assist African countries increase economic deliverables from resources exploitation by advocating good governance, building institutional capacity, providing policy advice, offering strategic guidance and delivering technical assistance.
The strategic objective is informed by the call by African countries for support in improving outcomes from the use of natural resources wealth and the expectation of citizens of resource-rich countries for inclusion in decision making and to benefit from the wealth.
According to the ANRC, Africa has significant renewable and non-renewable natural resource wealth. The region is estimated to account for about 30% of all global minerals reserves, which, in turn, accounts for an average of 70% of total African exports and about 28% of Gross Domestic Product (GDP).
Africa also has proven oil reserves that constitute 8% of the world’s reserves, and natural gas reserves that amount to 7%.
Africa’s natural resources provide a unique opportunity to foster human and economic development while facilitating regional integration in infrastructure, agriculture, energy, tourism and forestry, the centre believes.
Participation in the online consultation is possible through the following address: https://j.mp/ANRC_Consultation