Mining CEMAC: Dependence that Undermines the Economy of the Community of States

Abstract

The Central African Economic and Monetary Community known as CEMAC, is made up of six States in Central Africa, namely: Gabon, Cameroon, the Central African Republic (CAR), Chad, the Republic of the Congo and Equatorial Guinea.It is no exaggeration to say that CEMAC countries rely heavily on the exploitation of Extractive Industries (EI) for their respective development. Yves Alvarez et al. note that “like many other countries in Africa, the member countries of the CEMAC rely heavily on the exploitation of raw materials to support growth. However, for many reasons, these countries find that industrial exploitation based on foreign direct investment (FDI) does not create sufficient training to drive countries towards sustainable and sustainable development.” But, does relying heavily on the exploitation of raw materials is enough to sustain growth? This is a crucial issue. What do we see in the CEMAC area? Countries whose principal activity is to extract and exploit natural resources provided by nature" in their solid forms (mineral resources), liquid (oil resources) and gas (gas resources) - have become a central theme of political, economic and social analyses of African countries rich in natural resources. Two main reasons justify this. First of all, the Extractive Industries “represent a significant share of Gross Domestic Product (GDP) and account for a large share of the GDP of these countries, more than half of GDP for the most part.