Emerging Economies and Africa’s Natural Resource Curse: Avoiding the “Resource Curse” and Building M

In the specific cases of China and India, large state-owned oil and gas companies such as the China National Petroleum Corporation, Sinopec, the China National Offshore Oil Corporation, and the Oil and Natural Gas Corporation of India are important players in African energy sectors. [...] This entails the adoption of integrated beneficiation, diversification, and industrialization strategies that encourage innovation and pay particular attention to the industries and services associated with inputs in extractive sectors, post-extraction processes, and the industrial uses of resources. [...] In light of the challenges and opportunities associated with increased foreign interest in African land resources, African governments should adopt appropriate policy frameworks that articulate modalities for access to land by both domestic and foreign investors and recognize the land rights of local communities. [...] The optimal structuring of land deals requires evidence-based, transparent, and consultative negotiations on optimal land sizes and land lease periods, potential costs and benefits and how they are to be distributed and shared, basis for and terms of compensation, and how to ensure that land deals attain their economic, social, and environmental goals. [...] Previously, he served as a member of UN Secretary-General Kofi Annan’s Panel on Mobilizing International Support for the New Partnership for African Development (2005-2007) as well as Convener of the Global Economic Agenda Track of the Helsinki Process on Globalization and Democracy, a joint initiative of the Governments of Finland and Tanzania.