In every colonial system, the resources were owned by the foreign power, but the management of these resources were made by a privileged class of locals which constituted a local elite. This elite lives a very comfortable life, gives a "local face" to the regime for the population, but ultimately answers to the foreign power who retains the bulk of the profits sent overseas.

It's important to note that even if this elite is the "1%" of the country, this 1% amounts to a significant number of people.