Introduction
When the word “gold” is mentioned, we typically imagine bright yellow currency, bullion, or a piece of jewellery. In this article, we explore new “colours” and types of gold: crops and materials whose high prices make them as precious and valuable as gold.
The Black Gold: Petrol
The substantial revenue generated from oil makes it a veritable gold for any country that possesses it. Nigeria is the leading producer in Africa (accounting for 4% of global production). Libya, Algeria, and Congo are also significant producers on the continent. Most African oil is exported as a raw material.
The Brown Gold: Cocoa
In 2024, the price of cocoa (that is used for producing chocolate) reportedly jumped from $3000 to $13,000 per ton. Ivory Coast leads global production, supplying approximately 38% of the world’s cocoa. Ghana, Nigeria, Cameroon, and Togo are also prominent international producers of the crop.
The Green Gold: Jojoba
A desert crop that thrives in high temperatures, jojoba is cultivated for its oil, which is considered an inexpensive yet effective source of energy. South Africa and Egypt are important African producers of this crop and manufacturers of jojoba oil. Other producers on the international level are USA and Mexico. With the recent global energy crisis, Jojoba is held in high esteem.
The Yellow Gold: Classic Gold
We cannot forget the original gold. Ghana is the top producer of gold in Africa and ranks sixth globally. South Africa holds the second position, accounting for about 5% of global production. Sudan, Mali, and Burkina Faso are also noteworthy producers of this precious mineral.
The Blue Gold: Cobalt
A rare blue mineral has recently become very important due to its use in manufacturing car batteries and electronic devices. Congo produces approximately 72% of the world’s cobalt, making it the leading producer in Africa and globally. Indonesia is a distant second (around 8% of global production), while China is the world’s largest importer to keep its factories humming.
The Red Gold: Strawberry
Burkina Faso dominates the market of strawberries in Africa, with an annual output of approximately 2,000 tons, and it has become an important exporter of this fruit to many countries. Despite Burkina Faso’s long dry season, strawberry farmers have improved production by using modern irrigation technologies like drip irrigation, which reduces water consumption.
The White Gold: Cotton
Benin, Mali, Burkina Faso, and Ivory Coast collectively produce about 50% of Africa’s cotton. Their main importers are Malaysia, Bangladesh, and China. Notably, these importers are rapidly growing industrial economies that require raw cotton for their factories and industries.
Conclusion
Any resource that enriches those involved in its industry can be metaphorically called “gold.” Africa is rich in resources, but its countries often export these as raw materials, thereby losing significant potential wealth. Africa needs a substantial industrial base, along with improved education, reduced corruption, greater democracy, and significant enthusiasm to enforce this potential.
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