The Future of Natural Resource Management and Policy in Africa

This chapter discusses the future of natural resource management and policy direction in Africa. We provide insights on the management, strategies, challenges, ways to address the challenges of natural resource management, and the future of natural resource management. Our conclusion is that natural resource-rich countries, especially in Africa need strong leadership and institutional quality to ensure proper management of their resources. We also argue that strategic funding direction, educational outreach, and control of corruption are key pillars to ensuring a successful management of natural resources. Resource-rich countries must equally ensure that they put in better strategies such as strategic planning, extraction of resources and good fiscal regimes in managing their resources. The policy insight is that countries rich in natural resources must ensure that marginalized groups such as women, indigens and local communities participate in the decision-making process regarding the extraction and utilization of natural resources and revenues generated.