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Scrutiny
  
Damn you slumdog billionaires...
Have you ever heard of much wealthy people being called the poorest?
05/02/2009

We couldn’t get it. In fact, we haven’t got it for the past few years, having tried to unravel the idiotic paradox. And we bet that though you are well aware of it, you still accept it as a matter in the nature of natural history. Enough said. The issue in question is, of course, Africa! What takes our goat is that though Africa is supposed to be the centre of the world enriched with a bounty of natural resources, yet, most unfortunately, not only has it become the conflict zone of the world, but it also has refused to be advantaged from its humongous resources over the past so many centuries. That is the statistical fallacy that modern day capitalism has not been able to solve.

With abundant oil, natural gas, timber, cocoa, diamond, gold and more, to say Africa is a rich continent is a fool’s statement. Africa produces 46% chromium, 48% diamonds, and 48% platinum of the world. The US EIA data revealed that natural gas production in Africa is estimated to rise from 5.1 trillion cubic feet to 18.5 tcf by 2010. Sub-Sahara has 7% of the world’s oil reserves. It is home to some of biggest global exporters including Nigeria, Angola, Congo, Cameroon, Chad, and Sudan. Nigeria is the largest in Africa and 11th in the world, while Angola and Sudanese exports are rapidly rising. A UK based precious metals research and consultancy, GFMS, reveals that South Africa is the world’s largest gold producer. While Ghana produced 62.8 tonnes of gold in 2005, the tiny state Mali explored 45.9 tonnes and Congo is the largest producer of diamond with 22% global share, while Botswana, Sierra Leone, South Africa hold significant world reserves.

And what’s the rank of, say, Gabon, Congo, Cameroon, Sudan, Angola, Guinea, and Chad on the UNDP HDI list? 119, 139, 144, 146, 157, 167 and 170 respectively! We still haven’t got it why this situation hasn’t changed in decades?! It’s akin to Buffet living the life of a destitute... Stupid? Read the heading!

By:- Akram Hoque
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