<P> Infrastructure investments contributed to Africa's growth, and increased investment is necessary to maintain growth and tackle poverty . The returns to investment in infrastructure are very significant, with on average 30--40% returns for telecommunications (ICT) investments, over 40% for electricity generation and 80% for roads . </P> <P> In Africa, it is argued that in order to meet the MDGs by 2015 infrastructure investments would need to reach about 15% of GDP (around $93 billion a year). Currently, the source of financing varies significantly across sectors . Some sectors are dominated by state spending, others by overseas development aid (ODA) and yet others by private investors . In Sub-Saharan Africa, the state spends around $9.4 billion out of a total of $24.9 billion . In irrigation, SSA states represent almost all spending; in transport and energy a majority of investment is state spending; in ICT and water supply and sanitation, the private sector represents the majority of capital expenditure . Overall, aid, the private sector and non-OECD financiers between them exceed state spending . The private sector spending alone equals state capital expenditure, though the majority is focused on ICT infrastructure investments . External financing increased from $7 billion (2002) to $27 billion (2009). China, in particular, has emerged as an important investor . </P> <P> The region is a major exporter to the world of gold, uranium, chrome, vanadium, antimony, coltan, bauxite, iron ore, copper and manganese . South Africa is a major exporter of manganese as well as Chromium . A 2001 estimate is that 42% of the world's reserves of chromium may be found in South Africa . South Africa is the largest producer of platinum, with 80% of the total world's annual mine production and 88% of the world's platinum reserve . Sub-Saharan Africa produces 33% of the world's bauxite with Guinea as the major supplier . Zambia is a major producer of copper . Democratic Republic of Congo is a major source of coltan . Production from Congo is very small but has 80% of proven reserves . Sub-saharan Africa is a major producer of gold, producing up to 30% of global production . Major suppliers are South Africa, Ghana, Zimbabwe, Tanzania, Guinea, and Mali . South Africa had been first in the world in terms of gold production since 1905, but in 2007 it moved to second place, according to GFMS, the precious metals consultancy . Uranium is major commodity from the region . Significant suppliers are Niger, Namibia, and South Africa . Namibia was the number one supplier from Sub-Saharan Africa in 2008 . The region produces 49% of the world's diamonds . </P> <P> By 2015, it is estimated that 25% of North American oil will be from Sub-Saharan Africa, ahead of the Middle East . Sub-Saharan Africa has been the focus of an intense race for oil by the West, China, India, and other emerging economies, even though it holds only 10% of proven oil reserves, less than the Middle East . This race has been referred to as the second Scramble for Africa . All reasons for this global scramble come from the reserves' economic benefits . Transportation cost is low and no pipelines have to be laid as in Central Asia . Almost all reserves are offshore, so political turmoil within the host country will not directly interfere with operations . Sub-Saharan oil is viscous, with a very low sulfur content . This quickens the refining process and effectively reduces costs . New sources of oil are being located in Sub-Saharan Africa more frequently than anywhere else . Of all new sources of oil, 1⁄3 are in Sub-Saharan Africa . </P>

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