By Kwamina Panford
This e-book explores how African nations can convert their normal assets, relatively oil and fuel, 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 grants beneficial classes for brand spanking new oil manufacturers in Africa and somewhere else. counting on a large variety of fieldwork and policymaking event, Panford indicates sensible measures for resource-rich constructing nations to rework usual assets into worthwhile resources which may support create jobs, improve human assets, and enhance residing and dealing stipulations in Ghana specifically. He indicates economic, felony, and environmental antidotes to source mismanagement, which he identifies because the significant situation to socioeconomic improvement in nations that experience traditionally trusted traditional assets.
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Additional resources for Africa’s Natural Resources and Underdevelopment: How Ghana’s Petroleum Can Create Sustainable Economic Prosperity
Smaller producers include Equatorial Guinea (303,300 bpd), Congo (Brazzaville) (298,000 bpd), Gabon (244,000 bpd), Cameroon (62,000 bpd) and Ivory Coast (40,600 bpd). The International Energy Agency (2014, 61) agrees with KPMG’s assessment of the Gulf of Guinea countries’ value as OG nations. It is not only the Gulf of Guinea coast in West Africa that is emerging as an important arena; East African countries are also making new and important discoveries. Even though West Africa is outproducing East Africa, Uganda discovered significant oil reservoirs in 2006 and Tanzania, and Kenya could soon join the roster of new oil nations.
Since the 1990s, by contrast, he has used unfiltered well or borehole water and has had to cope with unpredictable power supply. The situation since 2010 has worsened. One of the few predictable features of Ghana today is unpredictable electricity, water and Internet supply. As it were, this is becoming the norm on a continent on which only one-third of the population has access to electrical power. In comparison, 70–90% of other developing regions’ populations have electricity (Chagutah 2016).
This is 84 times more the rate in Luxembourg (which is 2 per 1000). SSA’s average is estimated to be 15 times more than that of western industrialized countries (Gladstone 2014). AIDS/ HIV are two health areas where Africa urgently has to cover lost ground quickly. 5 million of 34 million AIDS fatalities occurred in Sub-Saharan Africa. 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.