Ghana’s persistent underdevelopment is not due to a lack of resources but a total leadership failure, says economist, Dr. John Kwakye, the Director of Research at the Institute of Economic Affairs (IEA).
The Economist is challenging the popular narrative of resource constraints some people tout as the bane of the country’s socio-economic development.
Dr. Kwakye argues that resources for development cannot be an excuse because Ghana is heavily endowed with natural wealth that is more than sufficient to lift its citizens out of poverty.
The challenge, stated, is a lack of proper leadership that can take ownership of the natural resources and harness them to the benefit of the country. He, therefore insists that the underdevelopment of Ghana is self-inflicted.
“When we have vast natural resource wealth, we can’t talk about a lack of resources to develop Ghana. Our poverty is self-inflicted,” the economist said in a post cited by The High Street Journal.
Ghana ranks high among countries of the world endowed with precious resources such as gold, oil, bauxite, manganese, cocoa, lithium, timber, and fertile lands. Yet, the country continues to grapple with widespread unemployment, infrastructure deficits, poor healthcare, and education challenges.
The way out of this maze, Dr. Kwakye says, is for the country’s leadership to take absolute control and ownership of the natural resources.
Ghanaian leaders, he advises must take inspiration from the leaders of countries such as Rwanda, Botswana, Eritrea, Burkina Faso, Niger, and Mali, that have shown commitment to national ownership and strategic management of their natural resources.
“Our leaders must take control of our natural resource wealth—like Rwanda, Botswana, Eritrea, Burkina Faso, Niger, Mali, to break our poverty chains,” he said.
Countries like Botswana have also strategically partnered with global mining firms while maintaining strong regulatory frameworks and ensuring that their people benefit from resource wealth. Rwanda has similarly emphasized governance, transparency, and inclusive growth, despite having far fewer natural resources than Ghana.
Until bold, visionary, and accountable governance becomes the standard of Ghana’s natural resource management, the country will continue to witness poverty amidst plenty.
