What we will do differently this time is that we won’t exploit the resources like in the past, we are here to help the people understand the value of their land and benefit from it. We know that in the past, colonizing countries took the resources for their own benefit from countries in South Africa, Pakistan, India, and the list could go on.
At the moment, 101 companies listed on the London Stock Exchange (most of them British) control over $1 trillion worth of key resources in Africa (gold, platinum, diamonds, copper, oil, gas, and gold). A quarter of those companies are incorporated in tax havens. As Roosevelt said back in 1943: “for every dollar that the British have put here, they have taken out 10”. More than 7 decades later, despite the end of colonialism and years of being offered aid, the African continent loses £203 billion because of natural resource exploitation.
Even now, Western developed countries have soy fields in Africa, because they understood something very important for every country and big company in the world: it is much cheaper to exploit the workforce in an underdeveloped country than to use local workforce. In Europe, a farmer earns more than 1,000 euro per month (even 2,000 in some cases), meanwhile a farmer in Africa gets about 250 euro per month. And this is not the only example. There are so many other companies that choose to open headquarters in other countries as the workforce is cheaper there: Western companies in the IT industry choose to hire people from China or India because the skills are similar while the wages are much lower, call center companies choose to hire people in the Philippines/ India as most people speak English while working at a lower-than-average wage compared to that in many western countries.
Unfortunately, many of these companies add value to the community. They pay the salaries and that’s it. Nothing more for the people living there and around. Today this is a very well-known fact.