It is said, of course, that we have no capital, no industrial skill, no communications, and no internal markets, and that we cannot even agree among ourselves how best to utilise our resources for our own social needs. Yet all stock exchanges in the world are preoccupied with Africa’s gold, diamonds, uranium, platinum, copper and iron ore.
Our capital flows out in streams to irrigate the whole system of Western economy. Fifty-two per cent of the gold in Fort Knox at this moment, where the USA stores its bullion, is believed to have originated from our shores. Africa provides more than 60% of the world’s gold. A great deal of the uranium for nuclear power, of copper for electronics, of titanium for supersonic projectiles, of iron and steel for heavy industries, of other minerals and raw materials for lighter industries – the basic economic might of the foreign powers – come from our continent.
Experts have estimated that the Congo Basin alone can produce enough food crops to satisfy the requirements of nearly half the population of the whole world, and here we sit talking about gradualism, talking about step by step. Are you afraid to tackle the bull by the horn? For centuries, Africa has been the milch cow of the Western world. Was it not our continent that helped the Western world to build up its accumulated wealth?
— African Union (24 May 1963) - Kwame Nkrumah
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