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Africa is rich in natural resources, and efforts are increasingly being made to ensure that these resources play a positive role in the development and growth of Africa. As mineral resources and oil are finite and therefore not sustainable , African countries can use them to kick-start their developmental agendas and to serve as the continent’s springboard into industrialisation, as occurred in Europe and NorthAmerica as well as in Asian countries such as Indonesia. The efficient management of revenue from these commodities can contribute significantly to fighting poverty, improving the socio-economic conditions of all citizens and promoting diversification of the economy in African countries.

It is clear from the levels of poverty that exist in most resource-abundant African countries that African governments – with the exception of a few such as Botswana and South Africa – have generally managed their countries’ resources badly.

The literature today points to robust empirical evidence for a negative relationship between natural resources wealth and economic growth, especially in Africa – the so – called resource curse. The World Bank, International Monetary Fund (IMF) and numerous influential scholars are now involved in finding solutions to the resource curse problem. Compiling best practice models when it comes to resource management is therefore important. But, does such a model exist and can it be replicated in other countries? Are there certain conditions that would lead to the better use of mineral resources?

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