By Precious Obadara.
Africa has a large quantity and number of natural resources, including diamonds, sugar, salt, gold, iron, cobalt, timber, titanium, aluminum, uranium, copper, bauxite, silver, petroleum and gas, cocoa beans, but also woods, tropical fruits and more.
The world’s most powerful nations are once again competing for the control of the abundant natural resources of the African continent. Some analysts describe this phenomenon as a “new scramble for Africa” in reference to the first “scramble for Africa”, which took place between 1881 and 1914 and resulted in powerful European nations dividing, occupying and colonizing the continent.
Top Countries like the US, China and Russia, as well as some key European countries, and less powerful nations like Japan, India, and Brazil are currently active in Africa. Some energy-rich Gulf countries are also racing to consolidate their investments on the continent, as they seek to expand their economies beyond oil and gas sectors.