| The collapse of commodity prices has hit resource-dependent African countries hard, but it is forcing them towards economic diversification, presenting fresh opportunities for outside investors. The big bang in demand for raw materials, driven mostly by China, has been good for African mineral producers. Too good perhaps, as little effort was made during the boom years to lock in gains by diversifying.
Of Africa’s 54 countries, 24 rely on a select few mineral products to generate more than 75 per cent of their export earnings, according to a study by the African Development Bank (ADB). A further 20 countries that do not have much in the way of resources still managed to grow by more than 4 per cent, as regional benefits spilt across national boundaries...............................................Full Article: Source
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