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African Governance Report V - 2018

Natural Resource Governance and Domestic Revenue Mobilization for Structural Transformation

image of African Governance Report V - 2018

Exploitation of natural resources has dominated economic activity in Africa but the benefits have accrued only to a privileged few. The continent’s most common strategy of exporting commodities in their raw (non-valued added) form has led to disappointing results, reflected in unsustainable and non-inclusive economic growth, marginal improvements in the well-being of the population, and low levels of economic diversification and transformation. This edition examines efforts to improve the governance of Africa’s abundant natural resources, emphasizing the need to strengthen natural resource governance institutions and frameworks to enhance domestic revenue, the promotion of economic diversification, and structural transformation.

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A proposed analytical framework and actual development outcomes

Africa is the continent most dependent on natural resource wealth, notably extractive resources (metals, oil and gas) as well as forests, land and water resources. At the peak of the resource boom of 2011–2012, Africa’s rents (or extraordinary profits from exploitation), especially those from extractive resources, averaged above 25 per cent of gross domestic product (GDP). This was more than five times the world average and 15 times the average of Organisation for Economic Cooperation and Development (OECD) members.

English

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