Africa has unexploited reserves of platinum, diamond, chromite, cobalt, phosphate, manganese, gold , bauxite and others . The mineral reserves in Africa are estimated at about $2.6 trillion. Gold reserves alone are estimated in excess of $1.3 trillion. The continent is estimated to hold more than 30% of the world’s mineral resources.
The continent is a home of a number of energy resources but most of them remain exploited . Vast oil reserves have been discovered in a number of African countries. Africa’s energy resources include geothermal resources, hydroelectricity resources, energy from wind and ocean current and solar resources.
Africa has a range of climatic conditions which create a wide diversity of habitats for various species of flora and fauna. The continent is therefore exceedingly well endowed with diverse biological resources including vegetation cover , vast insect life , diverse wild animal life , cultivated crops , vast insect life, and and domestic animals
The botanical resources include forests which provide energy and timber and are important for the economic development of Africa. The forests include many species of trees many of which are of medicinal value.
Africa continent has about 9% of the share of the world’s fresh water resources. The fresh water resources have not been exploited to l support fresh water economic related activities.
Population of Africa
Africa has a population of over 1 billion people which creates a potential demand for goods and services produced in Africa .