Ghana on the Rise

            In response to Annelise’s most recent blog post, I also found it refreshing to hear African leaders and political figures speaking against government corruption and in favor of distributing their natural resource wealth. Throughout the semester in my research, I’ve repeatedly come across the ramifications that corruption and the natural resource curse create in Africa. As Ghana had the fastest growing economy in the world last year, having good governance is absolutely crucial if they are to stay on the rise.

            As Annelise points out, Akufo-Addo says that he will make secondary school free with the funds from the booming oil industry. This directly correlates to the TIME article, as the population in African countries is very young. While many take this as an indicator for success, unless funds are invested in education and industry, the young population will not be able to develop Africa as is currently hoped. Once the booming oil industry is handled correctly, Africa has a much better hope of developing although most countries are not making these claims of better investment strategies. Furthermore, Paul Collier points out that African countries must only promise political and economic reform to gain support and attract investors, so we must still be wary that all Ghana is promising will become a reality.

            Annelise also says that Ghana is “encouraging foreign extraction companies to buy products from Ghana and employ Ghanaians,” which I fully support, but can’t help but wonder how they are doing this. As African countries typically have little say in global governance and FDI implications, I’m not sure that only encouragement will work. In addition, these claims were made in debates, so could it just be rhetoric? While I do believe that Ghanaians and their politicians truly want development to occur, as we have recently seen in the natural resource sector, I question whether they have the means to redirect foreign investment.

            Nonetheless, when looking at the Economist article that Annelise refers to, there are multiple remarks about good governance. Mr. Rawlings is “rallying against corruption” and Vitus Azeen of the Ghana Integrity Initiative challenges the people to “take action against those who are alleged to be responsible for corrupt acts” especially in the political party. The convicting words of Ghanaian leaders do give more hope than Collier gives to most African economies. Their challenge to the people and politicians implies that Ghana may hold itself and its citizens accountable for their actions unlike previous African states have.

            While Ghana will have many more hurdles on its path to development, establishment of a just oil industry, and creating opportunities outside of natural resources, it is well on its way with the foundations it is currently setting. If these statements prove to be more than politician’s rhetoric, Ghana has a much better change of continuing its massive GDP increase of 2011 and not become another natural resource curse failure.