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.
Mineral companies have created millions of jobs for the people of Morocco. This country has one of the lowest unemployment rates in Africa. The population of the country cannot fill all the positions. Therefore, there is the need of migrant workers. People are coming from as far as South Africa to work in Morocco. Thus, other Africans are benefiting from Morocco.
Because of many citizens of Morocco being gainfully employed, there is a very high standard of living. Living under a dollar a day is longer the case in this beautiful North African nation. In fact, there are citizens who are living a lifestyle of pomp and pleasure. Every day, many luxury goods from different western countries usually enter Morocco.
The development of mining sector has led to the development of supporting industries. In the national and international economy, no industry exists alone. Therefore, when one industry develops, the others develop as well. When there is failure in one sector, there will be a domino effect all across the board. That is how economics works in the world.
People who work in mines need somewhere to stay. They require housing. Due to that fact, the Moroccan real estate market is on an upward trajectory. Property developers are developing residential units at a rate never seen before. Some houses are made for those who would like to rent while others are being sold. There are also various commercial developments.
Banks are also benefiting. Mining enterprises need to bank their funds. They need to seamlessly transfer funds across the nation and across the world. Also, they need finance because mining minerals costs a lot of money. All these services are offered by banks. The insurance sector is also benefiting greatly. Different aspects of the mining process need to be insured.
Morocco does not only have minerals. It also has one of the largest fossil deposits. Early humans made Africa their home. Some of them lived in Morocco. That is why very old human fossils have been found in this corner of Africa. There are also plenty of animal fossils. Remains of prehistoric animals have been found in Moroccan cities.
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.
Mineral companies have created millions of jobs for the people of Morocco. This country has one of the lowest unemployment rates in Africa. The population of the country cannot fill all the positions. Therefore, there is the need of migrant workers. People are coming from as far as South Africa to work in Morocco. Thus, other Africans are benefiting from Morocco.
Because of many citizens of Morocco being gainfully employed, there is a very high standard of living. Living under a dollar a day is longer the case in this beautiful North African nation. In fact, there are citizens who are living a lifestyle of pomp and pleasure. Every day, many luxury goods from different western countries usually enter Morocco.
The development of mining sector has led to the development of supporting industries. In the national and international economy, no industry exists alone. Therefore, when one industry develops, the others develop as well. When there is failure in one sector, there will be a domino effect all across the board. That is how economics works in the world.
People who work in mines need somewhere to stay. They require housing. Due to that fact, the Moroccan real estate market is on an upward trajectory. Property developers are developing residential units at a rate never seen before. Some houses are made for those who would like to rent while others are being sold. There are also various commercial developments.
Banks are also benefiting. Mining enterprises need to bank their funds. They need to seamlessly transfer funds across the nation and across the world. Also, they need finance because mining minerals costs a lot of money. All these services are offered by banks. The insurance sector is also benefiting greatly. Different aspects of the mining process need to be insured.
Morocco does not only have minerals. It also has one of the largest fossil deposits. Early humans made Africa their home. Some of them lived in Morocco. That is why very old human fossils have been found in this corner of Africa. There are also plenty of animal fossils. Remains of prehistoric animals have been found in Moroccan cities.
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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