Africa Loses 90% of Resource Value to Western Processors: Ethiopian Economist
Africa Loses 90% of Resource Value to Western Processors: Ethiopian Economist
The continent’s practice of exporting raw materials allows Western countries to capture the vast majority of the value, leaving Africa with only a fraction of the profit, Dr. Mohammod Issa, an economist and assistant professor at Ethiopia's Werabe University, told Sputnik Africa.
Key points made by the economist:
🟠BRICS as a solution: Joining BRICS enables African countries to process resources locally, save them for future generations, and capture that 90% benefit through value addition and technology transfer.
🟠Win‑win cooperation: BRICS members share technology at the least cost. Russia gives technology transfer and innovation in a free situation to maximize sustainable diplomac, unlike Western models that kept Africa underdeveloped.
🟠De‑dollarization advantage: Trading in local currencies reduces the dominance of the US dollar, allows Africa to sell goods at better prices, and empowers multilateral trade relationships.
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