By Kwamina Panford
This e-book explores how African nations can convert their ordinary assets, really oil and fuel, into sustainable improvement resources. utilizing Ghana, one of many continent’s most up-to-date oil-producing international locations, as a lens, it examines the "resource curse" confronted by way of different manufacturers - reminiscent of Nigeria, Angola, and Equatorial Guinea - and demonstrates how mismanagement in these nations promises helpful classes for brand new oil manufacturers in Africa and somewhere else. counting on a large diversity of fieldwork and policymaking event, Panford indicates functional measures for resource-rich constructing international locations to remodel traditional assets into helpful resources which could aid create jobs, increase human assets, and enhance residing and dealing stipulations in Ghana specifically. He indicates monetary, criminal, and environmental antidotes to source mismanagement, which he identifies because the significant crisis to socioeconomic improvement in international locations that experience traditionally trusted typical assets.
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Extra info for Africa’s Natural Resources and Underdevelopment: How Ghana’s Petroleum Can Create Sustainable Economic Prosperity
The 2014–2015 Ebola outbreak in the three hardest-hit nations— Sierra Leone, Liberia and Guinea—depicted the vulnerability of health systems in West Africa. 12 They also exposed the potent negative outcomes of a combination of IMF–World Bank policies and prolonged civil turmoil. 19 million, Liberia had 51 medical doctors, 978 nurses/midwives, and 269 pharmacists. Sierra Leone’s situation is not better: for a population of approximately six million citizens, it had 136 doctors, 1017 midwives/nurses and 114 pharmacists (Tafineryika 2014, 10–11).
This is coupled with phenomenally high and rapidly rising income inequality never experienced before on the continent. Key areas—health, water, power/energy, education, training, science and information/communications technology (IT, or ICT as it is known in Africa)—illustrate why Africa may be the last continent to emancipate itself from excruciatingly painful poverty and hard 20 K. PANFORD labor. A Herculean bottleneck to development is the large infrastructural deficit of close to $100 billion (Daily Graphic 2009; Gentile 2010).
That is, if systemic efforts are not made to generate jobs with good wages by refining and adding value to Ghana’s crude domestically. Protagonists of the natural resource curse also extend the theory to cover more negative effects. They refer to these as the “paradox of plenty” (Karl 1997; Stevens 2003) to draw attention to the negative wider social and political outcomes of resource abundance. They contend that nations with more natural resources exhibit higher levels of socioeconomic inequality and greater degrees of poverty than those without.