Diamonds are Not Forever—Knowledge is Power

Africa's innovation strategies are at a crossroads. The African Union's 10-year Science, Technology and Innovation in Africa Strategy (STISA-2024) seeks to reposition Africa as a technology-driven economy, away from a supplier of raw materials for the global economy. To resolve the tension between mineral dependency and innovation, policy makers stress the importance of adding value to natural resources.

African states should try to get the best possible deal for their resources and often this will involve in-country value addition. At present, the continent's commodity systems not only suffer from enormous Illicit Financial Flow leakages, sucking money out of the continent and away from government treasuries, but also tend to engage in the least profitable end of the value chain....

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