Economy

Although Africa is a continent that is rich in resources and raw materials, a large part of its population lives in poverty. In the last few decades, the standard of living has improved but income is still very low. In addition, Africa relies heavily on farming products and minerals as a source of income.

Farming

Farming is the most important economic activity and way of earning money for the people of Africa. Almost 70% of its population work in agriculture.

Most of the continent’s population depends on staple crops, food that people need themselves and base their diet on. These include corn, sorghum, rice and wheat as well as potatoes, fruits and vegetables. Cash crops are grown on large plantations and exported to other countries. They include cocoa, bananas and coffee.

In many African countries, food production cannot keep up with the increasing population. This leads to chronic food shortages. Some African countries have turned from food exporters in the last century to food importers today. However, most of them do not have the money and capital to import food from abroad. In addition, climate change and widespread droughts lead to hunger and starvation in many parts of Africa.

Livestock is raised in all parts of Africa. Sheep, goats, camels, pigs and other animals are kept for food, skin and as working and transportation animals.

Farmers in Burkina Faso Image: Public domain, https://commons.wikimedia.org/w/index.php?curid=289842

Cocoa harvest in Cameroon Image: CHRISTONALDO, CC BY-SA 4.0, via Wikimedia Commons

Mining

Africa is rich with minerals and raw materials. The continent has large deposits of copper, gold, phosphates, platinum and minerals. The mining industry focuses on the countries south of the equator. Diamonds, gold and coal are produced in South Africa, which has the most advanced mining industry. Nigeria is Africa’s largest oil-producing country. Bauxite and phosphates are mined in Morocco.

While Africa does have many resources, they do not control the world markets. Most countries do not process raw materials but export them to developed countries. The fight over raw materials has also led to conflicts and wars in Africa. Selling diamonds illegally, for example, helped to finance a civil war in Sierra Leone in the 1990s.

Minerals in Africa
Own work
Source of outline map :
https://creazilla.com/media/clipart/3160467/africa
(Public Domain)

Manufacturing

Industry is a young sector of the African economy. Most industries were set up after the countries got their independence from Europe. During the colonial period they got their finished products from Europe, often at a high price. Many nations still have developing industrial sectors. While foreigners own many companies, the number of young African businessmen opening up firms has increased steadily.

Tourism and Transportation

Tourism is a leading source of income in at least some African countries. Millions of people from around the globe visit the historic sites of ancient Egypt. Others travel to the mountains of eastern Africa or go on a safari in one of the game reserves in Kenya or Tanzania. Conflicts, wars and uprisings during the Arab Spring kept tourists away from Egypt and northern Africa.

Transportation is poorly developed in many African countries. Only the middle and upper classes own cars. Many Africans go on foot or use buses and bikes as a method of transportation. Air transport is well-developed in places that attract tourists, like Egypt and Kenya.

Game reserve in South Africa
Image: flowcomm, CC BY 2.0, via
Wikimedia Commons