Us investment could help African countries make the most of it critical minerals and industrialise their economies,South Africa's President Cyril Ramaphosa has said.
At the opening ceremony of a major US-Africa trade summit in Johannesburg, he said: ''Africa is an important Source of critical raw materials, but we do not want to be defined as simply the producers of commodities.
He added that African Countries would profit greatly from keeping these materials in- house and transforming them into goods that can than be sold globally,rather than exporting the resources to countries with greater manufacturing capabilities.
''We Look forward to the United states working with African countries to foaster an investment led approach that aims to diversify international supply chains of critical minerals by beneficiating these resources here on the african continent. Mr, Ramaphosa Said.
In terms of natural resources, Africa is the most abundant continent on earth.It has 40% of the world's Gold,according to the UN, and the largest reserves of cobalt. Uranium, Platinum and Diamonds.How ever, several countries face high levels of poverty and inequality.
