African Passions Around Cameroon

Africa has immense mineral resources, yet its citizens remain far poorer than Europeans. In 37 sub-Saharan countries, more than a hundred companies listed on the London Stock Exchange operate mineral deposits, mostly under British, American and French ownership. Concession agreements allow foreign firms to capture as much as 80 to 85 percent of the proceeds from extraction while avoiding responsibility for environmental damage and violations of local communities’ rights. The text condemns this arrangement as a form of neocolonialism that treats Africa primarily as a source of resources.