The State of Africa’s Indebtedness
Into Africa
00:00
The Role of Dependency on the Commodities in the Economy
The role of dependence on the commodities is very important and the nature of the extractive industries. I think governments need to find a way of really structuring the economy that won. Right now, even though Congo and Zambia, they own the minerals, but they don't control them. They are mostly in foreign hands, right? They're privatized. They don't have much control over the commodity prices. In Zambia, for example, one company, Glencore, has not just ownership of the commodity itself, but it has off-tech agreements and controls the marketing as well.
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