Ghana's oil discovery: blessing or curse?

(This article is from December 15, 2010)

As Ghana joins the Oil rich club in Africa, Ghana also realizes that it cannot rely on this resource. Ghanaians are aware that oil will not magically create more jobs or make the ordinary people richer and they are prepared to quickly implement legislation that governs the administration and this new industry. Lucky for Ghana, they also have gold and cocoa to rely on unlike most other African countries, such as Angola where oil represents 92% of its GDP. Ghanains are still figuring out if this discovery is a blessing or a curse but they are attemping to avoid the mistakes of some otehr African countries that have fallen into the oil revenue curse where only the elites benefit while the ordinary citizens suffer.

By: Ivana Miljic