Riches are not only found in the west. They are also in Africa. The richest African countries are Nigeria, Egypt, South Africa, Algeria and Morocco. The transformation of Morocco from developing to developed country can be attributed to the presence of Moroccan minerals and fossils. These have facilitated the great leap of this nation that was decades ago a backwater with very little potential. Mineral wealth is evident in different parts of the country. The capital city, Rabat, is changing with every passing day because of the construction of new skyscrapers. Changes are also being witnessed in the countryside.
The mining sector of Morocco is at an all-time high. At no time has it performed the way that it is currently performing. That has led to the flow of investors from different parts of the world. The locals are also benefit because of the increase in the number of jobs. That has caused the constant drop in unemployment rate.
There is a higher standard of living because of the high GDP of Morocco. Some people in this part of the world live just like people in the UK, France, Germany and the USA. That is due to high disposable income. Citizens of mineral rich countries usually earn a lot of money and there are many state incentives for citizens.
The mining sector is not the only one that is developing. In an economy, all industries are connected. Thus, if one industry develops the others develop as well. That is also the case in Morocco. There have been developments in the service sector. There is the need for many service companies to support the booming mining industry of Morocco.
One sector that has been positively affected by the mining sector is the real estate market. In any country, this is the sector that benefits the most from other sectors. That is because for any business activity to take place, there has to be a property that houses all the business operations. Land is a vital factor of production.
The banks and the insurance companies have also benefited from the mineral wealth. The process of exploring and extracting minerals is capital intensive. It requires investments worth millions of dollars. No company can afford to raise capital all by itself. There will be the need to list shares on the stock exchange or to take a loan from a bank.
Morocco also has fossils. Africa is the cradle of mankind. It is where the first humans settled. That explains why African states like Morocco are rich in fossils. Some of the remains that have been found in this part of Africa are thousands years old. Because of Morocco fossils, this country usually receives a high number of tourists every year.
Africa is no longer behind. It is becoming a force to reckon with. In the coming years, some African countries like Morocco will become world leaders on many fronts. Already, Morocco is the third largest producer of phosphate, after China and the USA. Other minerals produced include silver, copper and steel. Morocco succeeds not just because of having minerals but also because of a good business and political climate.
The mining sector of Morocco is at an all-time high. At no time has it performed the way that it is currently performing. That has led to the flow of investors from different parts of the world. The locals are also benefit because of the increase in the number of jobs. That has caused the constant drop in unemployment rate.
There is a higher standard of living because of the high GDP of Morocco. Some people in this part of the world live just like people in the UK, France, Germany and the USA. That is due to high disposable income. Citizens of mineral rich countries usually earn a lot of money and there are many state incentives for citizens.
The mining sector is not the only one that is developing. In an economy, all industries are connected. Thus, if one industry develops the others develop as well. That is also the case in Morocco. There have been developments in the service sector. There is the need for many service companies to support the booming mining industry of Morocco.
One sector that has been positively affected by the mining sector is the real estate market. In any country, this is the sector that benefits the most from other sectors. That is because for any business activity to take place, there has to be a property that houses all the business operations. Land is a vital factor of production.
The banks and the insurance companies have also benefited from the mineral wealth. The process of exploring and extracting minerals is capital intensive. It requires investments worth millions of dollars. No company can afford to raise capital all by itself. There will be the need to list shares on the stock exchange or to take a loan from a bank.
Morocco also has fossils. Africa is the cradle of mankind. It is where the first humans settled. That explains why African states like Morocco are rich in fossils. Some of the remains that have been found in this part of Africa are thousands years old. Because of Morocco fossils, this country usually receives a high number of tourists every year.
Africa is no longer behind. It is becoming a force to reckon with. In the coming years, some African countries like Morocco will become world leaders on many fronts. Already, Morocco is the third largest producer of phosphate, after China and the USA. Other minerals produced include silver, copper and steel. Morocco succeeds not just because of having minerals but also because of a good business and political climate.
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