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Economy

Development of the Modern Sector

- Colonial Economy -

- Postcolonial Development -

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The modern sector of the African economy was developed largely by Europeans during the colonial period and geared toward the export of raw materials. Industrialization was minimal. After independence, many African governments pursued industrialization programs with varying success. Today, African nations face the challenge of expanding their economies to fulfill the needs of their people while maintaining their profitable export-oriented activities.

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