Mineral wealth

Mineral wealth is one of the Things About Guinea You Should Know is that Guinea. Ethnic groups, namely the Fulani and Malinke, make up more than 80% of the Muslim country. The country is a major producer of bauxite, a mineral used in the production of aluminum. It also has a lot of iron, gold, diamonds, and oil. Conde has implemented economic diversification measures, especially in the mining industry, which draws international investment but is hampered by inadequate infrastructure. Agriculture continues to be the primary source of employment. The African Development Bank (AfDB) estimates that GDP climbed by 6% in 2018 and 6.2 percent in 2019, owing to increasing foreign direct investment in the mining industry and modest improvement in electricity generation.

However, due to the coronavirus outbreak, the AfDB predicted in April that growth in 2020 would fall to 1.4 percent at best, and decrease at worst. Guinea is likewise plagued by corruption, ranking 130th out of 180 nations according to Transparency International. According to the World Bank, more than 55 percent of the 13 million-person population lives in poverty, and many do not have access to power or running water.