By Kwamina Panford
This publication explores how African international locations can convert their typical assets, relatively oil and gasoline, into sustainable improvement resources. utilizing Ghana, one of many continent’s most recent oil-producing nations, as a lens, it examines the "resource curse" confronted by means of different manufacturers - comparable to Nigeria, Angola, and Equatorial Guinea - and demonstrates how mismanagement in these nations gives you invaluable classes for brand spanking new oil manufacturers in Africa and in other places. counting on a vast variety of fieldwork and policymaking adventure, Panford indicates functional measures for resource-rich constructing international locations to rework ordinary assets into worthy resources which could aid create jobs, strengthen human assets, and enhance dwelling and dealing stipulations in Ghana particularly. He indicates monetary, felony, and environmental antidotes to source mismanagement, which he identifies because the significant crisis to socioeconomic improvement in nations that experience traditionally trusted ordinary assets.
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Extra resources for Africa’s Natural Resources and Underdevelopment: How Ghana’s Petroleum Can Create Sustainable Economic Prosperity
The former is Africa’s (and one of the world’s) leading e-waste and toxic dump sites. 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.
There are more indications of Africa being one of the most endowed continents. Eleven African nations are major world suppliers of diamond. They are led by Botswana,17 and South Africa, followed by Lesotho, 26 K. PANFORD Angola and DR Congo. Some of the most spectacular and expensive diamonds in the world have been found in these countries. In February 2016, a 404 carat, almost flawless D colored high clear quality diamond, valued at $14 million to $20 million, was discovered in Angola (CNN 2016).
Ivory Coast, Ghana, Cameroon, and Nigeria are all in the world’s top 10 cocoa exporters (Europa Publications 2015). 17. The biggest single gem quality diamond in 100 years was discovered in Botswana (Agence France Press, Accessed 23 January 2015). Sierra Leone’s diamond mines take up to 25% of its land area and is well known for gem quality diamonds, including a recent golf ball-sized diamond which sold for $4–$5 million. The Government of Sierra Leone, however, earned a mere $30,000 (Warw 2013, 5 and YouTube/National Geographic, Blood Diamond, Sierra Leone, 2008).