Dr Nkosazana Dlamini-Zuma, Chairperson of the AU Commission has said that the future of Africans would be determined by the manner in which they utilise their natural resources.

Dlamini-Zuma made this known in Addis Ababa at the 8th African Development Forum,

“We want the future of Africa to be a future where the use of our natural resources leads to Africa’s development, and also a future that claims an equal and dignified place in the global community of nations,’’ she said.

She said Africa was colonised because of its natural resources and that the continent’s status in global economy would be defined by its natural resources.

According to Dlamini-Zuma, the outcome of the forum would not only help decision makers to assess the state of affairs, but also help in charting a path to the future of Africa where uses of its natural resources productively and sustainably would be to its benefit and that of its people.

Dlamini-Zuma therefore, charged the forum to address the challenges that Africa faces with respect to the utilisation and management of the continent’s natural resources.

“You must address such issues as the ownership of these resources. Yes, resources are physically located on our continent, in our countries, but do we really own them? What should be the right balance between foreign and national ownership of resources and how do we get there?’’

“How much of our resources should we keep for our own needs for the next 50 or 100 years from now?’’ she asked.

She said with the latest statistics which showed that Africa was among the growing regions, it was unfortunate that the growth was

not generating enough jobs for Africans, especially the youth.

Mr Carlos Lopes, Executive Secretary, UN Economic Commission for Africa (UNECA) said Africa has a long way to go in order to harness the full potential of its resources.

“It is obvious that we are not there yet. We are gearing up to cope with the increasing global demand for natural resources, at a time of global concern about environmental sustainability and climate change. Our policy responses would therefore require that we change,’’ Lopes said.

He said there was need to improve the processes for accessing and extracting mineral resources in a way that tackles poverty

and promotes inter-generational equity.

Lopes said Africa accounts for three-quarters of the world’s platinum supply, and half of its diamonds and chromium, it has up to

one-fifth of gold and uranium supplies and it was increasingly home to oil and gas production with more than 30 countries in

the category.

He also said Africa has 60 per cent of the world uncultivated arable land, it has forest resources covering more than 23 per cent of its land area and that the same could be said about fisheries and aqua-culture endowments which if properly managed, could be more valuable than familiar non-renewable resources.

Speaking, Mr Aly Abou-Sabaa, Vice President, African Development Bank (AfDB) said Africa has the potential to ensure that its wealth

of natural resources served as a robust catalyst for economic growth, poverty reduction and sustainable development.

Abou-Sabaa, however, said that for this to be achieved, the continent must promote responsible investment for broad-based growth, strengthen enhanced transparency in governance and ensure accountability.

It must also build a capable and responsive state for human capacity development and ensure enhanced socio-economic drive in

the continent.