Researcher - Research Officer at Centre d’Etudes et de Formation pour le Developpement (CEFOD) in N’djamena (Chad)
The Central African Economic and Monetary Community known as CEMAC, is made up of six States in Central Africa, namely: Gabon, Cameroon, the Central African Republic (CAR), Chad, the Republic of the Congo and Equatorial Guinea.It is no exaggeration to say that CEMAC countries rely heavily on the exploitation of Extractive Industries (EI) for their respective development. Yves Alvarez et al. note that “like many other countries in Africa, the member countries of the CEMAC rely heavily on the exploitation of raw materials to support growth. However, for many reasons, these countries find that industrial exploitation based on foreign direct investment (FDI) does not create sufficient wealth to maintain growth and sustainable development.” Does heavy reliance on the exploitation of raw materials enough to sustain growth?
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