• Tuesday , 9 August 2022
  • Could Ghana’s discovery of oil be more of a curse than a blessing to the country?

Could Ghana’s discovery of oil be more of a curse than a blessing to the country?

From the archives of Time with David, David Ampofo interviews the President of Free Africa Foundation, George Ayittey, about the discovery of oil in Ghana.

“I think it could be a boom to Ghana’s economy. But at the same time we have to be extremely careful in terms of how we manage the oil resource and make sure it doesn’t turn into a curse as has happened in other countries like Nigeria, Angola, Equatorial Guinea and Gabon.”

He demands that Ghanaians be vigilant and calls upon the members of parliament to pursue total transparency on how the oil revenue is utilized.

On the role played by foreign investors, Ayittey argues that every foreign entity that comes into Africa comes to pursue their own interest. “Chinese investments should be welcome but Africa must protect itself,” he stresses.

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