Changing Wealth News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Sub-Saharan African (SSA) countries, including those in the CEMAC (Economic and Monetary Community of Central Africa) region are endowed with abundant natural resources that hold significant potential for economic growth. But in many instances, these opportunities were wasted, and results were disappointing: resource-rich countries in SSA often have registered lower economic growth and higher inequality than those without such resources – a phenomenon referred to as the “resource curse”. A recent World Bank report, which expands on the research conducted by Cust et al. (2022) , undertake...

Together, the 56 Commonwealth countries possess approximately US$150 trillion of wealth. This is 10 times greater than the value of their combined GDP (US$14.5 trillion) and 30 times more significant than the value of their global exports of goods and services ($4.8 trillion).

Together, the 56 Commonwealth countries possess approximately US$150 trillion of wealth. This is 10 times greater than the value of their combined GDP (US$14.5 trillion) and 30 times more significant than the value of their global exports of goods and services ($4.8 trillion).

Sustaining Africa’s growth over the coming decades will require a new approach to economic management, one that looks beyond gross domestic product (GDP), and considers the underlying assets of its countries and how they can contribute to sustainable prosperity.

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