Continuing Colonialism: World Bank Funds Mining in Africa

The Ahafo gold mine in Ghana, which displaced over 10,000 people

by Cyril Mychalejko

The private finance sector arm of the World Bank Group announced last month that it would invest $300 million to promote mining in Africa.

“Mining is a critically important yet challenging sector and [the International Finance Corporation] IFC has a role to play in supporting responsible companies that will bring jobs, related infrastructure and government revenues to Africa,” said Andrew Gunther, IFC’s Senior Manager of Infrastructure and Natural Resources in Africa and Latin America.

Dr. Aaron Tesfaye, a professor of International Political Economy and African Politics at William Paterson University, said he is not surprised by the announcement because of the economic and security implications mining and strategic metals have for industrialized nations.

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