BBC News - Does Africa really benefit from foreign investment?

BBC News - Does Africa really benefit from foreign investment?: "African economies have grown robustly over the past decade, but that has not solved the continent's economic problems.

According to Mthuli Ncube, chief economist of the African Development Bank (ADB), this is because Africa has weak manufacturing and agro-processing sectors.

He further maintains that at least 70% of growth over the past decade has been driven by natural resources.

"Exploiting natural resources is capital intensive and does not create many jobs directly," he says.

He says that for more people to benefit and to create more jobs, there has to be value-added processing of those resources.

"But more importantly, the answer lies in creating what is known as sovereign wealth funds," he says."

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