Blackonomics 102: State of the Black Owned Business

Published: October , 2015

From the Inkwell of: Bartholomew J. Worthington III

As the 2016 Presidential campaign season slowly ramps up, its necessary to take a look at the current State of the Black economy (Blackonomics).

Today we spend some time looking at the overall position of the Black businesses. As the overall economy continues to improve, there are several bright spots as well as a few challenges with regards to the state of Black owned businesses.

In central and western Africa, where forest cover is heaviest, the forest sector contributes more than 60 percent of GDP
Africa’s fishing industry provides income to more than 10 million people and has an annual export value of $2.7 billion
Africa’s extensive inland fisheries contain more than 3,000 fish species and account for two-thirds of global inland fish production
Africa’s two most profitable mineral resources are gold and diamonds. In 2008, Africa produced about 483 tons of gold, or 22 percent of the world’s total production
In 2008, the continent produced 55 percent of the world’s diamonds.
In 2007, the continent produced 12.5 percent of the world’s total oil production and 6.45 percent of the world’s total natural gas production
Lagos is the commercial and industrial hub of Nigeria, which has a gross domestic product that is triple that of any other West African country.

Africa: Resources