Many resource-rich African countries make poor use of their wealth. Take Equatorial Guinea, a small oil-producing country on the continent's west coast. In 2010, an estimated 75% of the population lived on less than $700 a year, but the average per capita income was almost $35,000, the continent's highest. Instead of creating prosperity, resources too often foster corruption, undermined inclusive economic growth, incited armed conflict and damaged the environment.
Read More
