By Kwamina Panford
This ebook explores how African international locations can convert their typical assets, rather oil and gasoline, into sustainable improvement resources. utilizing Ghana, one of many continent’s latest oil-producing nations, as a lens, it examines the "resource curse" confronted by way of different manufacturers - resembling Nigeria, Angola, and Equatorial Guinea - and demonstrates how mismanagement in these nations offers worthy classes for brand spanking new oil manufacturers in Africa and somewhere else. hoping on a wide variety of fieldwork and policymaking event, Panford indicates useful measures for resource-rich constructing international locations to rework usual assets into important resources which can support create jobs, improve human assets, and enhance residing and dealing stipulations in Ghana specifically. He indicates monetary, felony, and environmental antidotes to source mismanagement, which he identifies because the significant crisis to socioeconomic improvement in international locations that experience traditionally trusted normal assets.
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Additional info for Africa’s Natural Resources and Underdevelopment: How Ghana’s Petroleum Can Create Sustainable Economic Prosperity
The latter is fast becoming Africa’s (and one of the world’s) leading poor habitats. Both lack basic necessities, including appropriate sanitation, and solid waste disposal and personal safety and security. Supplies of social amenities, particularly water and power, are grossly inadequate. Most dwellers are, technically speaking, “squatters” who due to low wages or unemployment are unable to access either regular housing or other infrastructural services. With regard to international trade, an important source of national wealth, Africa’s performance and outcomes are substantially inadequate and in large part explain why Africans are poor in spite of an abundance of natural resources.
This is due to the high cost of both hardware and software, making it lag behind most continents. One factor accounting for the restricted access and affordability is the use of expensive satellites by Africans—whereas the industrialized world uses cheaper and high-capacity fiber optic cables. With a population of under a billion, it was estimated that in 2007 just 33 million Africans used the Internet (Internet World Statistics 2007). Thus, Africa had an Internet penetration rate of 3%— one of the lowest in the world.
Some of these Kenyan youth lacking good jobs have first and even master’s degrees. 7. This author’s real-life experiences show how in spite of the claims about Ghana’s exceptional economic and political performance, it has not been immune to the plight of most African nations. The author lived at Koforidua (54 miles from the Ghanaian capital, Accra). From the 1950s to 1980, he always used potable water and electricity from publicly-owned and operated water and power stations. Since the 1990s, by contrast, he has used unfiltered well or borehole water and has had to cope with unpredictable power supply.