Delivering on the promise: leveraging natural resources to accelerate human development in Africa

Delivering on the promise: leveraging natural resources to accelerate human development in Africa New natural resource discoveries, oil and gas provide a substantial opportunity to fast-track human development progress, with updated estimates indicating that revenues to be developed could contribute between 9 per cent and 31 per cent of additional government revenues, a new report shows. The report, by African Development Bank and the Bill and Melinda Gates Foundation, titled “Delivering on the Promise: Leveraging Natural Resources to Accelerate Human Development in Africa,” specifically highlights recent developments in Tanzania on oil and gas, but urges for development of local people’s capacity ahead of the industry. It shows that despite recent drops in commodity prices, newly updated estimates indicate that revenues from recent oil, gas and mineral discoveries and reserves to be developed could contribute between 9 per cent and 31per cent of additional government revenues for countries such as Tanzania, Uganda, Sierra Leone, Liberia, Ghana and Mozambique over the first ten years of production.