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Tuesday, 19 June 2007

African oil

Zambia recently announced that we have it but we need to know the size of the reserves, now Ghana have confirmed that they most certainly have it and in abundance. Read more here. I am sure after the planned exploration, the oil reserves in Zambia will prove just reserves as big. Africa remains largely unexplored in this area. The question now on everybody's lips is not whether your favorite African nation has oil, but "have you found it yet?". One can only hope that as Africans we have now learnt that its not the abundance of your natural resources that matter, but how you use them. Botswana has shown that if the institutional frameworks are correct the "resource curse" can become a blessing.

2 comments:

  1. Lesson #1: Don't Give It Away.

    I woulnd't trust this MMD government to negotiate anyithing in the benefit of Zambia.

    There has to be oversight - from parliament, and from the public.

    ReplyDelete
  2. Its interesting though that the media really have not pushed for a framework on ANY negotiations. Whether mine's renegotiation or future oil negotiation.

    In fact neither have the opposition. Although one imagines that they have their own strategies.

    ReplyDelete

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